WEBVTT 00:00:01.000 --> 00:00:07.000 In today's video I'm going to focus on the S&P cash and the S&P futures 00:00:07.000 --> 00:00:13.000 contracts. Now before I get started with this video, with all the 00:00:13.000 --> 00:00:19.000 other information, I do want to remind you that I love to look at the 513 EMA 00:00:19.000 --> 00:00:24.000 combo on the daily chart because ideally a high percentage of the time 00:00:24.000 --> 00:00:30.000 when you're on the same side as this you know average crossover you're 00:00:30.000 --> 00:00:35.000 typically in better shape. So for example when the 5 is above the 13, better to be 00:00:35.000 --> 00:00:39.000 on the buy side and see that there might have been a little hiccup over here but 00:00:39.000 --> 00:00:43.000 for this whole time you know that was the truth, that was the truth. Here it got 00:00:43.000 --> 00:00:50.000 a little bit squirrely but again once we started to see the 513 cross back to the 00:00:50.000 --> 00:00:54.000 downside that was when you know we started saying that this market is 00:00:54.000 --> 00:00:59.000 definitely vulnerable to more on the downside. So every time we've got a 00:00:59.000 --> 00:01:03.000 bounce we set up the bounce and there have been a lot of really good sell 00:01:03.000 --> 00:01:08.000 setups that we've been giving you via the either the daily chart or the 120 00:01:08.000 --> 00:01:13.000 minute chart inside the trading room. Okay but keep that in mind but knowing 00:01:13.000 --> 00:01:19.000 that right now yes we are still vulnerable to the downside we will be 00:01:19.000 --> 00:01:24.000 running new sell decisions next week. Okay I believe actually I do have some 00:01:24.000 --> 00:01:31.000 stuff already for you in the S&P but I'm also going to show you why I am going to 00:01:31.000 --> 00:01:36.000 anticipate a possible bounce. Okay so yes this is in a sell mode, yes it's lower 00:01:36.000 --> 00:01:43.000 lows and lower highs. Also if we add the other let's see chart template you know 00:01:43.000 --> 00:01:47.000 the full daily template that I use as far as averages we're also below the 50 00:01:47.000 --> 00:01:52.000 simple moving average and below the 200 simple moving average. So definitely 00:01:52.000 --> 00:01:57.000 gonna look you know or watch when it bounces for possible failure. Okay we 00:01:57.000 --> 00:02:01.000 won't take it unless it triggers though but now let's look at a few other things. 00:02:01.000 --> 00:02:07.000 So we have the S&P cash weekly chart so I went ahead and added some more lines 00:02:07.000 --> 00:02:12.000 because we needed them and I do have a couple areas that stand out that I'll 00:02:12.000 --> 00:02:17.000 share with you. We're on top of one right now with a 50% and two symmetrical 00:02:17.000 --> 00:02:23.000 projections at 64.51 to 64.72. Below the market you have two symmetry 00:02:23.000 --> 00:02:31.000 projections 64.06 to 64.08. Underneath that 63.47 to 63.59. Now I didn't go over 00:02:31.000 --> 00:02:35.000 these specifically because they don't stand out to me but I have left them up 00:02:35.000 --> 00:02:40.000 there because yeah sometimes you might just hold on a 7.86 or something like 00:02:40.000 --> 00:02:45.000 that but for me a single level is not a setup but if you have a cluster or if 00:02:45.000 --> 00:02:49.000 you have symmetry or if you have a two-step pattern setup then you know 00:02:49.000 --> 00:02:56.000 we're looking at some higher probability trade setups and then especially if 00:02:56.000 --> 00:03:01.000 they're on the you know on the trend side. All right how about let's see I 00:03:01.000 --> 00:03:08.000 also like to run the timing factors on the S&P cash okay because at least you 00:03:08.000 --> 00:03:12.000 have some better data there on S&P cash because if you look at futures I mean 00:03:12.000 --> 00:03:18.000 this is garbage data all the way over here so that's why I need to use this 00:03:18.000 --> 00:03:24.000 for the timing. Now I did it two ways I did it the outright cycles for example 00:03:24.000 --> 00:03:30.000 a high to high over here 1.272 comes in on the 23rd which is Monday another high 00:03:30.000 --> 00:03:34.000 to high a hundred percent in time comes in 24, 25th so we have timing cycles 00:03:34.000 --> 00:03:43.000 I'm outright 1 2 3 4 5 6 at least 6 between the 23rd through the 25th since 00:03:43.000 --> 00:03:47.000 we are trading straight down into these cycles we're going to anticipate a 00:03:47.000 --> 00:03:52.000 possible bounce so what does that tell you well if you are short which obviously 00:03:52.000 --> 00:03:57.000 has been the right way to go you want to ratchet down your stops on any shorts 00:03:57.000 --> 00:04:01.000 just in case because you don't want this to rip your head off the other way you 00:04:01.000 --> 00:04:06.000 know especially if you've been you know trading this nicely right so just know 00:04:06.000 --> 00:04:11.000 or anticipate a possibility of a bounce it doesn't mean that it's definitely 00:04:11.000 --> 00:04:16.000 going to happen but it does happen often enough that you definitely want to pay 00:04:16.000 --> 00:04:23.000 attention to the window okay so we do have the outright cycles the 23rd 00:04:23.000 --> 00:04:27.000 through the 25th and then here now I'm going to show you this I mean I've got 00:04:27.000 --> 00:04:31.000 written the 21st through the 25th but I'm going to show you how we do it so I 00:04:31.000 --> 00:04:36.000 go to the reports dynamic time projection make a new report I'm going 00:04:36.000 --> 00:04:41.000 three bars from the last high click on the table in histogram and then you can 00:04:41.000 --> 00:04:45.000 see over here on the right hand side where the highest scoring dates come in 00:04:45.000 --> 00:04:52.000 so really it's it's more like you know the 21st 21st 22nd are the highest 00:04:52.000 --> 00:04:58.000 scoring dates but you know that's I mean basically over the weekend and then you 00:04:58.000 --> 00:05:01.000 also have a couple other dates here so you know you can actually say well the 00:05:01.000 --> 00:05:05.000 cycles are really the 23rd through the 25th since we're you know when it comes 00:05:05.000 --> 00:05:11.000 to be Monday you know we're going to be beyond these dates but again they also 00:05:11.000 --> 00:05:17.000 tell you to anticipate a possible bounce and if we get the bounce we are going to 00:05:17.000 --> 00:05:23.000 set it up for you okay I mean we'll set up the sell side now as far as support 00:05:23.000 --> 00:05:27.000 yeah I mean you already have some of that and we do have well I'm going to 00:05:27.000 --> 00:05:32.000 show you some of this other stuff too if I look at the weekly continuous 00:05:32.000 --> 00:05:38.000 contract because it does have more data I do have some support here 65 21 to 65 00:05:38.000 --> 00:05:45.000 30 also the continuous daily contract futures contract you know on top of a 00:05:45.000 --> 00:05:51.000 cluster 65 11 to 22 and then the good old June contract which again we don't 00:05:51.000 --> 00:05:55.000 have a whole lot of good back data on the left hand side of the chart I still 00:05:55.000 --> 00:05:59.000 have plenty of data to give you some you know resistance here so I'm just 00:05:59.000 --> 00:06:05.000 gonna say that as far as this resistance is concerned it's only good if we 00:06:05.000 --> 00:06:10.000 continue to hold about this low that was made in today's session okay if we make 00:06:10.000 --> 00:06:15.000 a new low all of this has to be recalculated from the new low okay that's 00:06:15.000 --> 00:06:20.000 something that you need to know about this work you know you change something 00:06:20.000 --> 00:06:25.000 you know you may have to run into levels but I will give you so far like if we 00:06:25.000 --> 00:06:30.000 hold this important areas to look for possible short would be like up here 66 00:06:30.000 --> 00:06:38.000 81 to 91 another area with 618 plus a couple symmetry projections 6703 to 67 00:06:38.000 --> 00:06:47.000 15 another cluster at 67 46 to 51 another one at 67 81 to 98 and you know 00:06:47.000 --> 00:06:51.000 I mean maybe we do get a bounce from here because you know we're in that 00:06:51.000 --> 00:06:56.000 window for a bounce but you know get ready for another possible failure if 00:06:56.000 --> 00:07:01.000 you get up here but let's say if you take the counter trend trade and then 00:07:01.000 --> 00:07:04.000 all of a sudden it starts pushing through this resistance can you keep it 00:07:04.000 --> 00:07:10.000 sure but trail up those stops and I would say that if you are not making 00:07:10.000 --> 00:07:16.000 money trend of trading don't start counter trend trading you know that's 00:07:16.000 --> 00:07:22.000 you know you have less going for you at that point but again I'm giving you 00:07:22.000 --> 00:07:26.000 parameters on both sides for all of this also we did see another failure so I 00:07:26.000 --> 00:07:31.000 mean this we had these in the in the trading room and you had a failure 00:07:31.000 --> 00:07:36.000 against symmetry resistance I mean it doesn't necessarily look like anything 00:07:36.000 --> 00:07:43.000 major but you know if you look at where we put in high directly in that cluster 00:07:43.000 --> 00:07:49.000 area this was a decline of 168 and a quarter points now I am going to be 00:07:49.000 --> 00:07:54.000 running new levels here also but I will be doing this Sunday night I do a 00:07:54.000 --> 00:08:01.000 courtesy session in the evening when I am home and my computer I just don't do 00:08:01.000 --> 00:08:05.000 it when I'm working on my laptop traveling and I don't want to burn out 00:08:05.000 --> 00:08:09.000 my new laptop so anyway I will update these on Sunday night if you want to 00:08:09.000 --> 00:08:15.000 check out that session and again I'm just just wanted to give you some 00:08:15.000 --> 00:08:21.000 parameters to work with and to tell you why I have the anticipation to look for 00:08:21.000 --> 00:08:26.000 a possible low but trend trade still going to be on the sell side you have 00:08:26.000 --> 00:08:34.000 any questions you can ask and hope to see somebody in the room