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.
Stay Focused!
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