10.12.25 | ES | Weekly Market Outlook and Levels
Just a quick review of Fridays session for ES / SPX
For new subscribers—
I use Fibonacci Sequences as the core of my analysis. I do implement both mechanical and contextual levels (from market profiles) in my analysis. I typically use mechanical levels to identify potential areas of support/distribution.
If you do enjoy my posts and want to support it by liking it, that is greatly appreciated!
Just a quick note—
I color code just so they are easier to read and understand, since there are alot levels with fibs.
Blue - discount zones (support levels)
Purple - zones I’m looking for price to defend, (line in the sand)
Red - premium zones (resistance / distribution zones)
Some announcements —
I have decided to restructure my substack posts a bit. I have been experimenting with different forms of content. So far what I have decided is that I will still post my weekly analysis / outlook free. However — I will be adding the daily analysis/pre market levels to premium subscription.
I think at 35/mo that it is a very reasonable price for the quality of analysis I put out. From the point you subscribe, you are grandfathered in, so I do plan on eventually increasing prices as a I add more premium content.
Ninjatrader Arena Cup —
I will be one of the hosts and trading on live stream Oct 27th for Ninjatrader Arena cup. I’ll post the link so you guys can stop by and say hi :)
It is free to enter — and it is their biggest arena cup so far with up to $400,000 in cash prizes.
Top 10% of qualifiers will go on to compete in the championship round.
First place will have a $100,000 grand prize. Great opportunity to trade in a risk free environment.
News for the week
Earnings for the week
UAL 0.00%↑ will be a big one for the week.
Lots of financial earnings too, curious to see how those perform.
Video Analysis
We did have a bit of craziness happen on Friday so I will go over that.
» Looking at the ES
Two scenarios —
If we rotate up I will be monitoring for distribution OR exhaustion as we approach ~ 6696s and 6757
I will be looking for bulls to defend 6524 as downside support,
Failure to defend that level — we have potential to retest 6500s-6488 as potential downside support.
With the government shutdown, and its affect on news prints, i’m not really sure how it affects volatility. PPI is scheduled for tentative at the moment.
Just keep that in mind as you are trading,
Right now i’m looking to see if this downside support at 524s is going to hold.
Im watching for short covering, and initiation of a new sequence. And then watching for potential for sellers to reload as we approach where that poor structure is. (6690 / 6757)
We have a potential to gap up tomorrow, so I’ll know more in the morning after reviewing the overnight action
I think after Monday / Tuesday we will have a better idea.
Trade safe you guys!