WOULD YOU PREFER TO SPEAK WITH US ON THE PHONE OR A VIDEO CALL? CLICK HERE.

LIVE CLASS SCHEDULE
ABOUT RDT
ABOUT RDT MEET THE RDT TEAM ABOUT NINJATRADER TESTIMONIALS
COURSES
COURSES AND PROGRAMS (ENGLISH) CURSOS Y PROGRAMAS EN ESPANOL CLASS SCHEDULE THE VAULT
NEWS
MARKET NEWS BLOG
UPROFIT TRADER CONTACT
GET FUNDED
Join Our Discord Channel

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!

Stay connected with news and updates!

Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.

We hate SPAM. We will never sell your information, for any reason.

Categories

All Categories day trading habits trading recaps

All content published and distributed by Responsible Day Trading and its affiliates (collectively, the “Company”) is to be treated as general information only. None of the information provided by the Company or contained here is intended (a) as investment advice, (b) as an offer or solicitation of an offer to buy or sell or (c) as a recommendation, endorsement or sponsorship of any security, company or fund. Testimonials appearing may not be representative of other clients or customers and is not a guarantee of future performance or success.

Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. This is neither a solicitation nor an offer to buy or sell futures, options or forex. Past performance is not necessarily indicative of future results.

CFTC Rules 4.41 - Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, because the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.