SPX SPY ES for 7/25/24

“It can get ugly”

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The weekly plan should be read and the weekly video should be watched prior to reading this post. Weekly Prep and Video

Our short from yesterday paid off nicely today. We were prepared for a major continuation short if 5585 was lost. We took profit on the way down and a good chunk for +150 handles. Now that we have tapped (and exceeded) our major target of 5489.75 we will monitor the action around that level. A number of indices saw their lows at key areas so bulls have reason to show up tomorrow. That said, we have data tomorrow that could convince underwater bulls to exit and we see some additional blood. The next 2 days will be key to determining if we are looking for a swing long or a lower high to short for continuation lower.

The first 5 parts in my free series explaining some basic profile concepts is now available at www.pharmdcapital.com. Click PharmDCapital This section and other free material will be added to over time. Scroll down to the “Want a Taste” section to read it.

To learn more about how I trade, see the post “What is Trading Doggy Style” Here