Markets With Mando - Preparing For The Upcoming Week!

We'll start this edition of the newsletter by looking at S&P futures on the weekly timeframe. For those new to my content, I chart on ES because it runs 23 hours a day, 5 days a week. When SPY or SPX shows gaps, ES will show some levels created in the overnight session. This past week, ES took liquidity (swing high from last August) at 4455 rejected a daily bearish imbalance. The low of the week was a dip into a bearish weekly imbalance from 4369-4381, and as you can see, once that level was touched, there was a bounce :) Magic?!. To me that is an important level to hold for bulls, and if they can, I look towards last week's high at 4493. If the support level at 4369 falls, I see potential for a bit more downside over the next week, with my next weekly support level not until 4283 to 4256. Powell speaks twice this upcoming week in addition to PCE data on Friday. If you're interested in learning more about how I identify these levels, shoot me a DM on Twitter @MandoTrading! 

To the daily timeframe... like the weekly, ES dropped into a bullish imbalance. If this level was to lend a bounce, my next daily resistance level isn't until 4430, about 41 points higher. My support levels are in green, while my resistance levels are in red. 

Strong move from DXY on Friday, finally getting a close above previous resistance. Price ran into a bearish volume imbalance before closing below it on the daily. To me, DXY is one of the best indicators no one talks about. I made a video on my Youtube channel discussing why it can be a valuable took for traders to use. 

Nasdaq rejected a bearish volume imbalance before finding support and bouncing. It is worth noting that NQ did not take out a short term low Friday, while ES did. But like ES, we are right on support, and price should offer some answers early in the week. 

BTC Daily - Nice run over the last 10 days for crypto, as bitcoin held 50% of the range, took out a recent low and ran higher, creating multiple levels of support in the process. About a month ago, I tweet above 32600 being the level I wanted to see, and while I was very early, I still think that's a reasonable target. BTC BTC/USD took liquidity, so I'd like it to hold the 30k level before a run higher. 

SPY | 30 min - SPY gapped down overnight, rejected the gap then fell into support. Bounced from support back into the overnight gap, took liquidity, and rejected hard back down into support, taking the previous low, and bouncing a bit into power hour. I feel like I'm on repeat, but I think this support level is very important to hold for bulls.

FOCUS LIST

AAPL | 30 min - Like SPY, AAPL AAPL gapped down, fell into support, and ran higher through lunch, taking liquidity and falling lower to end the day. AAPL closed the day in support, and a level I will be watching into Monday. Support in green, resistance in red! 

TSLA | 30 min - beautiful price action from Tesla TSLA, perfectly respecting my levels. Multiple levels of resistance were formed on Friday, with the next level of support not until 248. Support in green, resistance in red! 

GOOGL | 30 min - GOOGL A perfect example why identifying a range is so important. You can see early Friday price rejected the bearish imbalance and faded hard, through multiple levels of support. When looking for the best level to play off of, you'd want a discount (50% or lower) bullish imbalance and vice versa for the downside. Bounced off the 50% and bullish imbalance at 121 and ran back up into that resistance level. 

Public Setups

AMD | 30 min - AMD rejected opening gap and bounced out of support at 107.47. Price then ran up, filled resistance before rejecting back lower. Built a few smaller levels of support on Friday, with 114 being the level I'm watching into this week. 

$MARA | 30 min - MARA consolidated the first half of Sunday before taking out the daily low and ripping into liquidity and resistance at 13. My eyes on BTC this week... 

$PLTR | 30 min - PLTR slow melt last week, with a small bounce out of support on Friday. Multiple levels of resistance above. Nothing major until 15.70 can break. 

$AI | 30 min - AI Like PLTR, a melter last week. Found support at 33 to close the day Friday. Really no interest from me unless price can get back to 40.68... 

$NFLX | 30 min - NFLX Starting to base a bit in support here at 418... Simply just taking out short term highs and lows. If price can get over that 429 level theres some room to the upside. Waiting game for me!

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This newsletter is a collection of my thoughts and is intended for educational purposes only. Nothing posted above is ever to be construed as financial advice.