ChartPros Market Insights

Remember the recent doom and gloom headlines?

There's been a long running debate between the technical analysis chartists and the fundamentalists and both sides can make their case for being "right".  Both sides often think that their way is best and the other side is full of you know what...

Since no one can predict the future how did the recent economic news data this past week "cause" the markets to surge like they did?

Which side are you on? Get the "INSIDE scoop!"

Learn the top strategies for trading all time highs and managing risk.

Many equities and indexes are at or near their tops. Trading all time highs (ATH) can be a risky proposition because there is less historical data available at these levels.

Join ChartPros for this informative and potentially money making/saving FREE webinar replay to help boost your trading confidence, consistency, and trading results.

 The Bulls Are Back!

The BIG question: Will the markets surge to new All Time Highs?

Get the Critical Levels & Expert Insights Every Trader and Investor Should Know.

The S&P 500 (/ES) has taken traders on a roller coaster ride ever since setting its 6163.75 all time highs (ATH) back in mid December.  Seemingly, the Santa Clause rally came early this past Christmas.

Price made a tumultuous drop just before the holidays and the headlines were full of doom and gloom and words like "correction" were being tossed around like candy in a parade.

Today, we’ll dive into the recent volatility through the lens of price action technical analysis.

Watch ChartPros Founder Tom Winterstein develop an actionable price action technical analysis trade plan for the S&P 500 futures ticker /ES.

In 4 minutes traders will get levels of interest in both directions!

The Volatility Index (VIX) moves inversely to the indices and can often be an indicator of upcoming market moves... 

Join us as we walk you through the specific details of the correlation between the VIX and the rest of the market and how to incorporate this relationship into your trading style to increase confidence and consistency!

Get Your FREE VIX Trade Entry Timing Course Today!

One of the most frequently asked questions we get is:

Can the markets keep going higher?

The short answer is:

YES... It’s possible because the S&P 500 ticker /ES still has potential higher time frame targets in play.

Today we simply present multiple time frame charts as they speak for themselves...

Once again the S&P 500 (/ES) is our chart of the day ahead of the final scheduled news catalyst for 2023 - the FOMC Statement and follow up press conference with Fed Chair Jerome Powell starting at 2pm eastern today.

Last FOMC Day the S&P 500 futures (ticker /ES) initially spiked up 15 points, spiked down 20 points, then surged 45 points all in the 2hrs after the FOMC statement and follow up press conference.

Be prepared for similar volatility this afternoon... before then anticipate potential choppy or sideways price action.

Vince Koehn, a long time ChartPros Trade Room 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.

Until recently.

LET'S GET READY TO RUUUUMMMMMBBBBBBLLLLLLEEEEEEE!!!!

Today we'll take a look at the weekly S&P 500 (/ES) chart where we can see a major upcoming decision that price will be making.

What's at stake is control for the bulls vs bears...

So often I get asked "Tom, where do you think the market is heading?"

I start by saying the better question is "where could the market be heading?"

Because what I think doesn't matter to price action and no one knows with any certainty where the markets are heading. 

I don't make predictions, I don't call tops/bottoms however, I may react to price when it reaches a predetermined level of interest by trading or investing in that particular index, equity, commodity, Forex, etc.

Let's take the S&P 500 for example using it's futures ticker /ES...

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.