Week of 8/18/2024
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Here is a link to the free video for LAST week The Path to New Highs. It still applies
The key spot to start last week on SPY 0.00%↑ 5385 ES. A clean break above implied a 5432.5 test. The 5432.5 reclaim and hold implied 5530, and the rest of the upside can still be seen on the video. The potentially bearish scenario for last week was a look above and fail of 5385 that then got trapped back below 5356. On Monday, we looked above 5385 and failed but held 5356.25 (twice) after.
I’ve done a brief video for this week to complement the week’s plan below the paywall. Good luck this week.
Be sure that you have read the free series I’ve started introducing Volume/Market Profile. I will continue to add archives of free content as it will be easier to find than searching for old Substack posts. You can find it halfway down the page at the following link PharmD Capital