Anticipating the Pullback after a Strong Move Up in the Emini S&P with Responsible Day Trading
Dec 05, 2023Hey there traders! I do hope that everyone has had a great weekend and have been in good health. I’ve been a little under the weather myself and I’m SO ready to be back on top of things. Just like trading, slow and steady wins the race.
So, the last few weeks, we have seen this market just book it to the upside. While the price works hard to make it to the last high, we still do have a little ways to travel. During this time that it has worked its way up, we saw a strong push at first, but it began to slow down and create some grindy movements to the upside. Just creeping its way up—probably taking out a lot of inexperienced traders along the way.
The current look it has been giving us, paired with the massive amount of distance the price has created to the Daily EMAs, tells us to be prepared for a pull back down to the downside. There is loads of space to run back to the EMAS, and those things usually act like magnets to pull the price back into it. This combined with the white MACD BBs is a very telling sign.
What we will have to do is to pay attention to the movements, as the BBs are still outside of the Bollinger bands currently, so the key thing is—not to force, but to anticipate.
Alright my friends! Don’t forget that we’re hosting a meet and greet on Saturday, here in the Sugar Land area. We’d love for anyone in the Houston area to join us, have some coffee and talk shop! You can check out the events on or page if you want more details about it.
Thanks for being here with us and much love good peeps!
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