Sloppy Action at Resistance

Morning Scoop

The markets were choppy again yesterday and we ended up closing in the red, but this was not unexpected. That’s why it’s important to plan and stay in tune with what the market is doing and simply follow it. Avoid pushing your own narrative of what you think the market should do. Read the sentiment and go with the flow, don’t try to force it in a certain direction.


📰 News
daily chart

TSLA down to $166 pre-market after reporting earnings yesterday after the close. 

📈📉 S&P 500 Futures Update
4 hour chart

SPY futures are currently trading within a tight range. If we want to see further upside, the upper resistance needs to be broken. However, at the moment, it doesn’t seem like this attempt will be the one to take us above. But of course, anything can happen in the markets.

🔮 Forecast

We are currently in a precarious situation with SPY futures, and NASDAQ is also hovering around an important range. I believe we may see a downward movement before considering new highs. There was some optimism as we approached these levels, but now the push doesn’t seem as strong. Only time will tell. I am ready to change my sentiment at any moment if the market shifts.


I’m considering looking for a downside opportunity today as the market seems to be showing weakness. If I find a trade with a compelling setup, if it’s a weak chart, I’ll consider taking a short position. However, I’m being very selective and waiting for a clear opportunity before making any moves.


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