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June 5, 2022: Weekly Emini S&P Market Rundown and What to Expect with Responsible Day Trading

Jun 06, 2022

First off, thanks to Jason Giordanella for stepping in when I couldn’t be here last week!  It was nice and refreshing to see his analysis of the market!  And it sure did do exactly as he anticipated—it pulled right into the Daily 55 EMAS and stopped on a dime—then it just kind of got stuck between the 4100 to 4200 area.

Now, looking into longer term, we can see that we are clearly making lower lows and lower highs—leading us to believe that we have made it to the bear market.  Price held out and the MACDs on the daily chart are trying to convince us that we still have a little bit of momentum to the upside.  So while we’re at this major area to push the market down—timing is EVERYTHING in this profession, so waiting for a proper slowdown in the MACDS would probably be in your best interest if you’re looking to ride it to the downside.

When we move to the smaller charts, we can see that there isn’t a lot of promise in EITHER direction—EMAs are flat and have been run over in both directions, while the MACDs are trying to move to the upside—but the strength is not super convincing—especially with the overall direction still being down.

I mean, we can take advantage of pullbacks—just as long as we can anticipate where the bounce in the opposite direction might occur.  This helps us to protect our profits by either pulling in your stop to lower the risk/lock in profits or to make a swift exit before the market begins to move against your trade.  Either way is beneficial, just choosing which will be best for your trading plan (and your mental health) is always best to be clear on.

Closer to the end of the video, we talk stops, how to minimize your risk and why to stay out when your stop can’t be in a place that you “don’t expect the market to go.” If you’re not sure where your risk should go, then it might be in your best interest to make that your number 1 lesson for the week my friends!

Well folks, thank you so much for being here with us!  We appreciate you and we’re here for you if you have any questions! Happy trading peeps! I’m looking forward to catching you on the profitable side

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