Click here for Signal Trades spreadsheet. Updates 1:45 AM ET - Wednesday 1/11/23 CPI Unlike previous occasions, Powell's speech on Tuesday resulted in ES NQ RTY rising. Here are some projections for CPI on Thursday from JP Morgan. As you can, they are projecting a higher probability of S&P rising from CPI data as opposed to dropping. Additionally, the Fed is now floating via WSJ the possibility of 0.25% interest rate increase on Feb 1. Read more here. So conditions are primed for ES NQ RTY to continue rising. Key S/R levels All S/R levels have been pushed upward in the table below, as ES NQ RTY are showing more bullish strength. Since January 4, we've been explaining that ES NQ RTY are setting up bullish patterns. After Powell's speech on Tuesday, this bullish pattern is becoming even clearer. Keep an eye on RTY 200 EMA green line on its 15-minute chart. As you can see it is starting to rise up steadily. We are aiming to scale into TNA as RTY retests around the 200 EMA zone. Note that $VIX $VVIX and all market breadth charts are currently showing setups that are bullish for stocks. Our Personal Trade Plan We continue to concentrate on scaling into TNA. We think RTY is likely to retest 1800-1810 range. This means TNA is likely to retest the 33.5 - 34 range. In the Signal Trades spreadsheet, we have shown our buy orders to scale into TNA in the above price range. Questions? For new members who may not be familiar with the information we post in this blog, please check the glossary for more information. You can also email us with questions directly. Disclaimer The information presented here is our own personal opinion. Consider it as food for thought. We are not offering financial advice. We are not promoting any financial products. We are not registered financial advisers or licensed brokers. We make no guarantee that anything will unfold according to our projections. You are proceeding at your own risk if you follow our trades.
0 Comments
Leave a Reply. |
Archives
December 2024
Categories |