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E-mini S&P Weekly Breakdown

Jan 16, 2024

Hey guys! Today it is Dan here with you going through the usual weekly rundown. We are going to be introducing and rotating everyone for the weekly rundowns so you guys can get to know the team better and experience everyone's slightly different view of the market.
 
Today on that Daily chart we saw a BIG RETRACEMENT DIVERGENCE with such a weak pullback in the price in comparison to those RDT MACDs, which looks like they just wanted to get away and roll on to the downside. I  noticed some nice price action throughout the day and a good amount of volatility providing some nice trading opportunities.
 
Despite some early anticipations of the market having potential to pop up a bit further, we can see now how that Retracement Divergence on the daily is winning out and pushing price to the downside.
 
Those RDT MACD BBs on the Daily Chart sure look like they are trying their best to break out of those Bollinger Bands. If we can break out of the bands it will be interesting to see if the market can keep up the strength to the downside back towards previous lows or even back towards those Daily Chart EMAs.
 
Now this demonstrates the importance of how we can incorporate the Daily chart info, into giving us some sort of a bias or an underlying expectation for what the market may be trying to do. Therefore, we can plan out potential situations ahead of time and be prepared when opportunities present themselves.
 
That is going to wrap everything up for this weeks breakdown, if you have any questions please do not hesitate to drop us a message or a comment below. We hope you all have an amazing week, trade responsibly and we will see you on the profitable side!

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