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Monday Morning Emini S&P Market Expectations for 4-18-22 with Responsible Day Trading

Apr 18, 2022

So, Sunday night sure did open with a bang, right?  The market dropped quite heavily overnight and it is getting a bit harder each day to see the possibilities of the move back up.  There is still a strong area of support that we have not broken through below us, so there’s a good chance that the market will try to pull back to test that.

Currently, all signs are pointing down.  Of course, we’re going to see pullbacks—some rather significant in that time—but being careful to pay attention to the strength at which the market moves to areas of support in order to anticipate if it should hold when/if we reach it.

As I come back to view things in the morning—not much has changed (which may lead me to put this out on Sunday nights for a while and save my time on Monday).  We did pull back to the upside a bit deeper, but the expectations of the movement is still to the downside.  With our larger charts having an overall bias of down, the path of least resistance is down.  Of course, we can see movements up or retracements wouldn’t be a thing—but it looks like the bigger moves are to the downside. 

That is until we pull back to test the divergence that happened on the Daily chart to see if that’s going to be the deciding factor in turning this market back to the upside.

But as always, time will tell.  We will have to keep an eye on things and remember to NEVER force our opinions on the market but let it tell us what its doing and jump on for the ride my friends!  Either way it goes, make sure you make good decisions and have a wonderful week!  Much love and awesome trades to all!

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