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Sunday January 22, 2023 Emini S&P 500 Weekly Breakdown with Responsible Day Trading

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Jan 23, 2023

 

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Hello my friends and welcome to another week of opportunity! I know that last week, I was talking about how I anticipated it to go up and, while it did for a VERY temporary moment, it sure did move hard to the downside. Just goes to show that I’m definitely not perfect and why I spend a lot more time paying attention to what the smaller charts give me vs. the bigger ones. Now, in looking at things, we can see that through the trading charts, while the immediate is down, the overall has shifted, massively, to the upside. And while we do see it making the attempt to push down, there are still a lot of stronger areas below us that we will have to break through before we can really shift this whole thing down. Of course, as we know, that doesn’t mean it can’t go back down BUT it does mean that it should take some work to do it. Our job from here is to not get caught up in the indecision while the market makes up its mind. It may mean quicker targets and paying close attention to MACD strength as you’re coming up on any slowdown in the movement—especially if you are trading into an area of support that could move this market back up. Focus and attention without trying to make the market do what you want it to do will be vital any day of the week in your trading career—some days more than others for sure! If you need any help with any of it, please feel free to reach out and I’ll be happy to give you some guidance my friends! Wishing you an amazing week and I’ll catch y’all back here in 2 week! The sandy beaches are calling!

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