The structure of the market is holding up, and with multiple bullish squeezes happening, I’m going long into this week.
Ideally, I would like to see a pullback before entering the $420 calls. However, im accepting max loss either way. Let’s see how this week plans out.
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A big goal of mine is to shift a lot of my focus back to trading the squeeze. Throughout my entire trading career, historically, when I focus on nothing but the squeeze I trade at my best. As I continue to go through the process of developing the big three indicator, that’s a big part of the goal as well, trying to fine-tune these buy and sell signals for the squeeze.
As I review squeezes for next week the main setup is the S&P 500 (SPX) weekly squeeze. This squeeze has been around since Christmas. Inside the weekly squeeze the SPX is also showing a daily squeeze which, for now, is printing a buy signal.
Stay Focused!!
Ahead of the open, I take my Big 3 Indicator and review some high-compression squeezes on a few names.
Most of the time, high compression squeezes fire short; let’s see what the week brings for these squeezes.
The schedule is jam-packed with catalysts including earnings, economic reports, and Federal Reserve events. This week, we’re anticipating earnings reports from META, MSFT, GOOGL, and AMZN. The question is, where do we go next? Does the market roll over and fall apart? Does the market rally and get continuation of the big push from mid-March?
There are multiple negative momentum crosses on the Big 3 Histogram from the indexes to technology names to Gold. This means the energy behind the push higher is starting to wear out.
In the video above, we’ll review the structure of names with negative momentum shifts including the Nasdaq (QQQ), S&P 500 (SPX), and semiconductors (SMH).
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In March, the Nasdaq (QQQ) was showing a daily squeeze that fired to the upside. Using my Big 3 histogram, we can see the missing piece of the puzzle, the positive cross on the momentum histogram above the zero line, which provided support higher.
For a daily squeeze to fire long, it was the perfect recipe. After a consolidation period, QQQ is now showing another daily squeeze. This time, momentum is breaking under the zero line, showing momentum for the bears.
In the video above, we’ll break down the daily squeeze on QQQ and the structure on the S&P 500 on the lower time frames. Let’s see if the market will fall apart and roll over, or turn the corner and shift the momentum back towards the upside.
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After some selling pressure earlier in the day, we saw an impressive close from the bulls on Monday. While the market continues to trade in a box, tomorrow we could see a bigger push if the Nasdaq (/NQ) can take out the 13,200 level.
In the video above, we’ll break down the structure of the Nasdaq and S&P 500 on the lower time frames. Monday set the tone for a bear trap, and, for now, things are well aligned for a continued push to the upside.
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The S&P 500 Futures (/ES) has been trying to break out of its current range but continues getting pushed back to support.
The E-mini Nasdaq-100 futures (NQ) shows a weekly and daily squeeze toward the upside. My Big 3 Signals and histogram show a positive shift alongside the ATR trailing stop.
Next week, see if /NQ holds support at $13,100 and rebuild our lower time frames. The shorter time frames must shift the momentum and get these squeezes fired through our current ranges.
In the video above, we’ll review the market’s current “paper bag” range and break down recent trades we took this week and currently have open in my Compounding Growth Mastery.
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With a break of the lows followed by a bounce above support, the 4 hour charts are setting up for a “slingshot squeeze” to the upside. Here’s the trades we opened in the rooms today!
After the Consumer Price Index (CPI) report, the market popped towards our target, the ATR trailing stop. Let’s see if the weekly squeeze will finally fire soon and lead the way.
Things are shaping up for the bulls. The weekly chart of the S&P 500 Futures (/ES) has a weekly squeeze, weekly Big 3 Buy signals, and bullish lower time frame signals.
In January, things were also lining up for the bulls; however, the only thing the bulls accomplished was to take the market to the weekly ATR trailing stop. After it hit the ATR trailing stop, the market rolled back over. Since then, the ATR trailing stop has been a major resistance level.
We’re looking for the /ES to break above $4,200 to shift the market in favor of the bulls. Then the bulls have a chance to see the weekly squeeze fire long.
In the video above, we’ll review the market’s path on the way to $4,200, break down the price action in the SPX on Monday, and what we’re looking for to take our next trade in the Compounding Growth Mastery.
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