We're in full earnings season, so the market is expected to move erratically from a technical point of view.
From a fundamental perspective, we expect well performing banks to lead the S&P500 earnings season as top performers for one simple reason: interest rate hikes should have a considerably positive impact on their income. We don't know if that is enough to drag the index to all-time highs since the market had already partially, if not fully, priced in the impact of a higher interest rate on company earnings.
We would look for the E-mini S&P to test the 2344.00 area then fall to 2320.00 area.
If the market doesn't gap up over our entry level after the holidays, and the short-term trend started with this quarter's earnings period (April) holds, our setup is validated and we can safely short the E-Mini S&P with a relatively tight stop (~17 ticks) and a take profit of at least 50-60 ticks.
We are also keeping an eye on the 2334.00 level to see how price action reacts to it.
From a fundamental perspective, we expect well performing banks to lead the S&P500 earnings season as top performers for one simple reason: interest rate hikes should have a considerably positive impact on their income. We don't know if that is enough to drag the index to all-time highs since the market had already partially, if not fully, priced in the impact of a higher interest rate on company earnings.
We would look for the E-mini S&P to test the 2344.00 area then fall to 2320.00 area.
If the market doesn't gap up over our entry level after the holidays, and the short-term trend started with this quarter's earnings period (April) holds, our setup is validated and we can safely short the E-Mini S&P with a relatively tight stop (~17 ticks) and a take profit of at least 50-60 ticks.
We are also keeping an eye on the 2334.00 level to see how price action reacts to it.
Nota
The E-Mini S&P500 almost got to the area where we're looking to sell. The trade is setting up nicely so far.Nota
Side-note: price action completely disregarded 2334-2335 area.Dagangan aktif
We have entered the short @ 2345.00, stops 20 ticks, take profit: 75 ticksNota
If price action breaks below 2335.00, we are trailing our stops at +22 ticks above break even (BE - comissions @ 2345.00)Nota
Right now we recommend trailing stops at break even + comissions.Dagangan ditutup: hentian tercapai
We got stopped out today on our trailed stop.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.