Ricky Wen
Articles by Ricky Wen
Wednesday’s session was more of the same as it was another expected consolidation. If you recall, it was only day #2 of the pattern so patience Is needed given the past 2 weeks’ V-shape performance totaling +8% from the 3650s low to...
Wednesday was a gap-up and hold type of session as the Emini S&P 500 (ES) could not muster enough strength after advancing for about +0.4-0.5% over the prior day’s closing print by hovering in the 3310s-3320s. Basically, the price...
Key to watch for Friday is the market's reaction to the 3085/3100 resistance levels on the Emini S&P 500 (ES), as we’re treating this as a dead-cat bounce.
It’s been a trend week down (Monday-Thursday) thus far, and Friday typically...
It’s been a trend week down (Monday-Thursday) thus far, and Friday typically...
Monday’s session was an inside day within a potential inside week/high-level consolidation context. Basically, the regular trading hours (RTH) session was confined to a 3059-3027 range on the Emini S&P 500 (ES), which is about 1%. In...
Tuesday’s session played out as a massive gap up and consolidation. This meant that it allowed the price action and its internals to reset, catch a breath in order to ramp up higher again. It’s been the same structure for the past few...
Overnight price action overshot to 2830 support on the Emini S&P 500 (ES), bottoming out at 2825.25, as price was oversold given the 100-point drop from the 2930s.
As of the regular trading hours open, the ES was around the same...
As of the regular trading hours open, the ES was around the same...
Tuesday’s session played out as a ‘gap up and go’ structure that faded in the final few minutes of regular trading hours (RTH). If you recall, RTH opened at 2863.25 after Monday’s closing print of 2827.5 on the Emini S&P 500 (ES), so...
Price action on Monday found a temporary bottom and then proceeded to bounce back into the 50-61.8% Fib retracement region before rolling back into the expected 3250-3240 support area on the Emini S&P500 (ES).
The main takeaway...
The main takeaway...
Tuesday’s session played out as a doji consolidation day that acted as a high-level consolidation. Overnight saw higher-lows & higher-highs structure into the top end of the pre-determined January range of 3337-3155 on the ...
After Sunday night's grind up, Monday’s regular trading hours session was just a very tight consolidation overall range of 3083-3072.5 on the S&P 500, trapping and baiting traders as it gets ready for the next move. Price action could...
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