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July 24, 2022 Weekly Emini S&P 500 Market Rundown with Responsible Day Trading

Jul 25, 2022

Alright folks!  The market has pulled back to the EMAs and we need to see if this is going to make the attempt to start making new highs or are we going to keep pushing to the downside.  Seeing what the action says, I think we should still see this move to the downside a bit more.  I keep trying to have that optimism that its going to go up--- but optimism doesn’t make it move where I want it… Eyes wide open to what is happening just allows me to play along.

We do talk a bit about how to understand the shift change on your current chart and how we know what to look for in order to shift the direction on each chart.  Just moving to the opposite side of either the EMAs or the Zero Line aren’t necessarily enough—we want to see some other signals that tell us that we have a higher probability of it going in the anticipated direction. 

We also touch on how to handle yourself when you recognize that the price is stuck between a tight support and resistance area.  Trying to be the hero to break through it—usually doesn’t work.  But taking the trade from area to area, until it finally breaks, isn’t a bad strategy… As long as you have the mindset to get out when it tells you to!

Well my friends, that’s going to wrap this Sunday up!  I hope that everyone has a fabulous week and please reach out to us if you have any questions or want to check out what The Vault is about!

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