The biggest focus point this week is on the 4-hour squeeze printing on the S&P 500 (ES), as the ES traded lower toward the 4-hour Ichimoku Cloud and Point of Control (POC) near $4,619. For the rest of the week we’ll watch to see if the ES can push up to the Ichimoku Cloud top at $4,673 or drop through the Ichimoku Cloud bottom to POC.
We can use the hourly squeeze to determine which direction we can expect the market to move next.
The Volatility Index (VIX) popped from 18 to 20 on Wednesday and retreated to 18 on Thursday.
If VIX breaks through 18, we can expect a pullback and the squeeze to fire to the downside.
If VIX stays below 18, the market will likely fire the squeeze to the upside.
Remember to focus on what is in front of you and react to the market. Watch the video above for squeeze setups we’re watching on GOOGL, NVDA, and BNTX.
Stay Focused!