SPX/ES/SPY setups for 10/25
Some fun in the Discord tomorrow?
From last nights post:
4253 is eligible to a look above and fail with 56.75 above it. First target 40-43, see what happens at 35.5 (not a strong level per se) and trim 22-27 range.
Potential value traverse short if we look above and fail today’s VAH 4272.5 or even today’s highs (4280.75). This trade must get thru 4253 in order to traverse all the way to 42.25. If it were to set up things would look quite bullish so I would wait for confirmation and trim fast with stops to even on the rest.”
The first setup played out overnight hitting our key level 4242.25 as the exact overnight low. I posted to lock it in for a nice gain as it was early globex.
The second setup played out perfectly during cash hours. Numerous other big accounts were bullish over the 4253 LVN but I urged caution. I don’t buy inside gap ups when we’re in a downtrend. I reiterated in the discord that I was looking to short a pop at the open if we failed to maintain over 4272.25 or yesterday’s high as per the plan. The action was wild and choppy at the open. I posted that I would not join the bulls today, that they would need 84-85+ for traction and that I would short every short setup that presented. Our big short setup indeed presented on the combined look above and fail of yesterday’s high and the IB high and we got the full value traverse to target of 4242.25 (4242 low of day) where I posted that the trade was over. I entered at 4277 and posted where, when, and why for educational purposes so make sure to review. Times are EST-3.