Market Analysis for Jul 29th, 2021

Jul 29, 2021 - 12:22 PM EDT

Market Updates + Upcoming Schedule

No big surprises yet with the grind up action, ES price action has followed Ricky's proprietary projections since Monday's KISS report.

ES dipped into the 4365-4375 support region and now hovering at 4420 weekly highs region, getting ready the acceleration/breakout into 4480-4450 targets. Raise stops, ride train till da music stops, rinse and repeat.

Heading into Friday, it's one of the most bullish days given this year's stats.

Scale out short-term profits accordingly, level by level approach. Know your timeframes

Then, we need to a little more careful because of weak seasonality stats in August for S&P 500.

Bonus: rotations into RTY remain very bullish. Shared a freebie in the main room.

Another sample of my prescient and actionable work from my room 👇

Ricky will be travelling for a week starting tomorrow. Will be back on Monday August 9th. Apologies for any inconvenience 👍

Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.

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