Week of 9/8/2024
For those of you that don’t currently have the bandwidth for day trades and the Discord, this is a reminder that I have a secondary newsletter at a much lower price point that gets access to the weekly plans and videos. It can be seen here at
Please click below for Discord access. Be sure to check your “junk” folder for the invite or sign up link.
I did a video recap for this week which includes some educational pearls It can be seen here: Video Recap
The rest of the video and the plan for this week can be seen below.
While this has been primarily a technical trading newsletter, I went ahead and got pretty heavy into my macro thoughts which I rarely do.
Last week on SPY 0.00%↑ was all about the box. The box ran roughly 5560 to 5650 on SPX and 554.9 to 563.69 on SPY. That box broke to the downside on Tuesday after an overnight look above and fail. We had been monitoring 5671 on ES as really the last legitimate spot to fail prior to making a new all-time high. Monday night hit 5669.75 and it was all downhill from there. NQ had also given us a bit of a clue last week (first discussed last Thursday) as it actually gapped value lower last week which was eerily similar to the spring selloff. Indeed, ES followed suit a week later with a significant sell after the multi-day balance.
ES came into an absolutely critical area (particularly as it bled out after the bell) which should be familiar to you from my recent free videos. This week’s plan will focus on how we will play things if this spot is lost, and how we will play a relief rally.
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