SPX SPY ES for 8/12/24

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

Tomorrow is absolutely critical for SPY 0.00%↑

If you watched my video, the look above and fail of Fridays high has played out BUT so far bulls have defended 5356.

For today we were expecting 49-52 to be reactive if we traded lower. We were monitoring for a look above and fail of 5385 on the upside.

The overnight low was 5350.25, rallied to 5385, looked above and failed, and sold to 5347.75 during cash hours. We then rallied to and thru 5385 during cash hours, and again failed. This took price to the critical 5356 spot (5356.25 low). We have PPI in the morning and some possible overnight volatility given Trump is doing a spaces and we could potential see an Iran attack against Israel any day. You have the spots to manage risk from the video.

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