Three try failure?
S&P futures have been my go-to for macro plays, really accurate TA.
The market seemingly loves to dump after three tries (maybe 4?) at a major resistance. Here's what I'm looking at, possible big move tomorrow aligning with non-farm numbers coming out before open. I believe we rally into the FED meeting after this, but it would make sense to re-test the breakout trendline and shake-out weak positions before the run plus it would just be a nasty nasty move, which seems to be way things roll in this market!
Here's what it looks like on the 30m, the three touches are more apparent. That orange line is an anchored VWAP from the March high, which we've also rejected off of, and the fib is a major one from the 2020 low. Lot of confluence.
Some big SPY dark pool action as well, lots of
1M+ puts too from the bigs.
The market seemingly loves to dump after three tries (maybe 4?) at a major resistance. Here's what I'm looking at, possible big move tomorrow aligning with non-farm numbers coming out before open. I believe we rally into the FED meeting after this, but it would make sense to re-test the breakout trendline and shake-out weak positions before the run plus it would just be a nasty nasty move, which seems to be way things roll in this market!
Here's what it looks like on the 30m, the three touches are more apparent. That orange line is an anchored VWAP from the March high, which we've also rejected off of, and the fib is a major one from the 2020 low. Lot of confluence.
Some big SPY dark pool action as well, lots of
1M+ puts too from the bigs.
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