ChartPros Market Insights
May 30 Chart of the Day - S&P 500
While the New York Stock Exchange (NYSE) was closed Monday in observance of Memorial Day the global after-hours electronic trading system (GLOBEX) opened as normal Sunday evening at 6pm eastern time. And given the US debt ceiling headline news over the long weekend the S&P 500 futures ticker /ES gapped up about 20 points on the open to keep the bulls firmly in control.
On the current ES weekly chart I've only marked it up with Support/Resistance and Trend. Also known as basic structure. In this view traders can see that price often ping pongs between historical levels before proceeding in its next direction.
If you'd like to enroll in the same exact Introduction to Price Action Trading using Support/Resistance and Trend course that I took earlier in my trading career we're offering it at an incredibly low price this week revealed at this link.
Navigating the Markets with Price Action Technical Analysis: Expert Tips for Successful Stocks, Options, Futures, Forex, Crypto, and Commodity Trading
Price action technical analysis is a popular and effective approach to navigating the financial markets, including stocks, options, futures, Forex, Crypto, and Commodity trading.
This article will provide expert tips and insights to help you successfully trade various financial instruments using price action technical analysis. By understanding and applying these concepts, you can improve your trading skills and potentially achieve greater profitability.
May 4 Chart of the Day - Apple
S&P 500 (Ticker /ES) Trade Plan for February 23
Forex Grid Trade Plan | February 13, 2023
S&P 500 Trade Plan
S&P 500 Recap for February 9, 2023
Is the S&P 500 Bear Market Over?
By definition, a bear market is when price drops 20% or more from its recent or all time highs. So for the S&P 500 ticker /ES one could say that technically speaking the bear market is over because price is now approximately 15% off the all time high set back in October 2021.
But is the recent run up simply a "Bear Market Rally" or are the bulls firmly back in charge gunning for new all time highs? See this before your next trade!
See How This ChartPros Trade Room Member Used Apex Trader Funding to Earn Over $800K in 4th Quarter 2022!
Vince, a long time ChartPros member talks about his success with Apex Funded Trader program.
We frequently get asked about various funded trading programs and we've reviewed plenty of them but historically never participated in or recommended any of them.
S&P 500 (Ticker /ES) Higher Time Frame Analysis
Follow along with ChartPros Founder Tom Winterstein as he charted in real time and walked through step by step to identify bi-directional levels of interest for the S&P 500 (ticker /ES).
His analysis takes you through the last couple of months of 2022 and into 2023 and you'll see all the details as well as amazingly where price went to versus the anticipated levels so far.
Have You Ever Thought About Quitting Your Job to Trade Full Time?
Trading is not easy, but can be life changing.
We seldom meet a trader who isn't passionate about generating supplemental income, or even better, someone who desires to quit their day job to become a full time trader.
But many find that can be easy to say but hard to do.
The Rise and Fall of Bitcoin from a Price Action Technical Analysis Perspective
Seems like all the self proclaimed charting experts are suddenly appearing to claim that they "knew" that Bitcoin (ticker BTC) was going to top out and make the free fall that it did... Not so fast my friends!
For well over the past year traders have been asking us what we thought about Bitcoin and our honest answer has consistently been "it doesn't matter what we think about Bitcoin but what's important is what story the BTC chart has been telling us... You just have to know how to listen to it and pickup on the clues that it provides."
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