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Monday Market Weekly E-Mini S&P 500 Rundown with Responsible Day Trading 5-1-22 & Reading the MACDs for Expectations

May 02, 2022

So we’re back to where we were at our lowest in the last few months and the way the MACDs are behaving—we’re probably going to see this make the attempt to go lower.  And from what I see, if we break this area—we have a chance for this market to go quite a distance down.  BUT we have to break this area first.  And with FOMC in the works this week, we never know what might could happen.

Now, what are the signs that the areas might break?  In watching the MACDs on the Daily chart, they have reached an area for a bounce back up, but—the strength behind them is undeniable and it really is hard to stop a train.  The BBs (or dots) are wide and spread apart, the EMAs are starting to show the potential to really begin to open up to the downside on the Daily and on our next bigger tick charts, the EMAs are REALLY booking it to the downside.  (You can see this explained in the video)

While I like to be an optimist, as I’ve said in the past—and even though moving to the downside doesn’t take us out of any opportunity, I think we’ll be hard pressed to say new highs any time soon. Of course, I’m no fortune teller, I just read what I see in the patterns that repeat themselves every single day in this market.

Remember, take things in stride!  Lower contracts (or even from e-minis to the e-micros) if you feel uncertain about things and the market doesn’t make moves to write home about so this way, you can still write home!  Much love my friends and we’ll catch y’all around soon!

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