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ES Weekly - Nothing too crazy last week, despite both CPI and PPI data coming in. Noteworthy that the market refused to break the previous week high. Inside week heading into FOMC on Wednesday... Can lead to explosive price action. Not expecting much for this week prior to that.
NQ Weekly - Price remained inside previous bearish imbalance from March 2022, but like ES, refused to take out the previous weekly high. Small support level at 15200 and liquidity resting at 14804. Not expecting much until Wednesday.
9 straight weeks of green for the dollar. Next upside target for me is at 105.88, which I think could be the short term top for this run. If you don't look at DXY, check out my YouTube video on it. To me, the dollar is the best indicator you can use.
A perfect rejection of a daily bearish volume imbalance sends ES down hard on Friday. Price did hold inside the bullish imbalance from August. Currently in discount, I would favor a move below 4483, to take liquidity, and from there potential upside. Bears shift the tides on a move below 4414.
NQ rejected a bearish volume imbalance on the daily, sending price back down to equilibrium of the range, perfect setup for an FOMC week... 15132 would be the lowest bullish imbalance in discount, an area bulls are going to need to hold.
SPY SPY - Meltdown! Yet to take out swing low liquidity at 442.64. If the range is set here, I'd favor a bounce to start the week, getting into the bearish imbalance at the .70 to .79 range.
AAPL AAPL - Relative equal highs at 177.49 and lows at 173.55. Not really interested in AAPL until one of those levels are taken out.
TSLA TSLA swept swing high and dumped hard Friday. Retraced back into a discount bearish imbalance before fading to a new low. A move above the most recent swing high would be pretty bullish for TSLA, but until then market structure remains bearish.
GOOGL GOOGL - Held up well on Friday in relation to many other names. Market structure remains bullish until swing low at 136.24 is swept. Want to see how price reacts to the current imbalance price closed inside on Friday.
Big fade on AMZN AMZN on Friday, but like GOOGL, market structure remains bullish. Bears don't take over unless swing low at 138.50 is taken out for me. Bulls want to see that liquidity at the 140.01 low swept and an immediate bounce from there. That would be the perfect golden pocket bounce, as it did the first time around.
NVDA NVDA took a beating last week, down quite a bit from highs from a few weeks ago. It is a very cluttered range here, and not a name I am too interested in at this time.
Absolutely textbook move on AMD AMD. Swing low taken out, retracement into discount bearish imbalance, and rejection and meltdown. 2 Standard Deviations completes at 100.43. Large range sets the stage for big bounces, worth keeping in mind.
MSFT MSFT swept swing low on Friday after a huge meltdown. Large range here, with 50% of the range being at 334.50.
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