The Market

We had an incredible day yesterday! We took a couple small losses, but nothing too huge after our big trade to the upside. We also were accurate that the market would reverse, but I cut the trade too early which is okay since my rule is to not trade if I am not looking at the charts. Today is the day before Jerome Powell speaks, a day where we have seen the market move to the upside intraday most of the day on. I am prepared to hold a long at a good buy spot if the charts read correctly.

Daily

4 Hour

I'm not even going to say anything. #DoesAkLiHaveACrystalBall #isAkLiTheBestOnMooMoo #Lmao

We are so on the money with out charts in 2023 its crazy. That's all i'll say.

1 Hour

Go read the previous The Market. Look at there my arrows are and tell me if I changed anything after the fact.

I'm telling you, we don't play. We are getting better every day and I have all of you to thank for encouraging me to get up and write these articles. If you appreciate me, I appreicate you more. So thank you :)

5 Minute

We are right in the middle of the range from yesterday. I don't see much here other than we are in a down trend.

Lets go back to the Daily and 4 hour charts. You really didn't think I wouldn't say something about the charts right.

Yeah this ones a tough one. There are a couple setups here, but the daily bull flag looks weak, and the 4 hour is pretty neutral. I think the market is actually well balanced here. A balance is great, but also not the best. It tells me that there could be less volitility on the day, or we will move in a solid direction. I would have appreciated if we had these charts for tomorrow leading into Jerome Powell. I think if the bulls want to continue pushing up we need to retest the higher levels.

The bulls cannot let the market close below 432.49 on the 4 hour chart. If they can find support, then I think the trend may look something like this. If not, I think we may move lower.

If the bulls cannot hold the market and Jerome Powell comes out bearish along with other data, we might move back to the lows with volume. This would no longer hold the cup and handle pattern we are currently trading. The shape would change and I think the downside will be realized. Remember, many investors are loading november puts.

Again, the arrows on the chart are NOT an indication of where the price will actually go. Do your own research and talk to your financial advisor before taking any trade.

Here is what I think about the market.

Current chart

Thank you for all the support on these posts and my futures plays. I have some news for everyone!

I have opened another trading combine! I will be posting most of my trades here and ideas. I will be trading the MES and working towards passing this account challenge along with you guys. I will post the results of the day either at the end of the day or the next day or maybe at the end of the week. I am not sure yet. but I appreciate everyone and I hope you all make money.

I normally do not use tags, but today I will in appreciation for everyone and to hopefully expand my audiance. I also plan on making a website or something to post all these so we can reference them moving forward, it is hard to organize my articles on MooMoo. If you have any suggestions on where to post them let me know in the comments below. Thank you for reading and I hope everyone ends today in profit