Morning Scoop
Yesterday, we saw a nice rally after the gap down we had earlier. Most trading was within a range in the morning, but things started looking up later in the day with a push higher towards the close. Fingers crossed that this rally will stick around for a while, but as always, only time will tell!
Markets
🧠Brain Game
Can you find the odd one out?
9 – 3 – 12 – 6 – 15 – 7
Answer at the end.
📈📉 S&P 500 Futures Update
S&P futures are looking pretty bullish right now and seem to be heading back towards a 4-hour supply zone. If you take a look at the chart, you can see that the price followed an upward trendline before breaking down and hitting some lows at the start of the first white line. Then it bounced back up and even made it into the green zone twice (which is a 4-hour supply zone), but got rejected both times. And now we’re getting close to that area again – the question is, will the price turn around or keep on going up?
🔮 Forecast
Alright, let’s zoom in a bit further on the one-hour chart. Take a look at the rejection from the green zone – it’s pretty clear. Whenever the price gets up there, it’s like there’s an instant pushdown. Today we’re seeing a nice gap up, so it’ll be interesting to see if we can break through or if we’ll just hang out around here for the day.
Brain Game Answer
Answer: The odd one out is 7. All the other numbers are divisible by 3, but 7 is not.
Wrap-up
Let’s wait and see how the price action plays out today. Personally, I like to wait for the gap to settle down for at least 15 minutes before placing any trades. Once things have calmed down a bit, I’ll check my watchlist to see if any of my levels are being hit. It’s all about staying patient and letting the market come to you!
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