Sunday February 12, 2023 The Emini S&P Weekly Market Rundown and Expectations with RDTFeb 13, 2023
Hello traders and welcome to a new week! (Although, no we're not in a time warp it IS 2023-- I realize I say 2022 in the video now lol) We are so fortunate that we live in a day and age where we get to choose where and how we work. And knowing what to expect out of your day is usually a determining factor in how the week is going to go. So, this is why we do this! This is why we look at the news and the market every Sunday so we know what to expect out of our time with it.
This week, news is mostly premarket—and there’s a lot of it—so if you are a premarket trader, make sure you’re paying attention to the possibility of the price making some bigger and maybe more erratic moves during that time. We only have 1 thing on Wednesday that happens an hour after the market opens and that’s Crude Oil Inventories.
Now, the market started with a huge push to the upside, reaching a bit higher than our last high last week—but it immediately fell hard and fast tot the downside. And it is getting a bit hard to see that its going to stop moving down. Even though the Daily chart still has direction moved to the upside, all of our other charts have moved down and are showing the possibilities for a lot more movement and momentum in that direction.
Of course, we’re still going to have long opportunities (one of the beauties of trading futures markets) but just always be aware of what your MACDs are telling out about the areas you’re approaching and listen to the reasons for that area to either break and continue to the next—or hold and push the market further down. It’s always a good idea to know if the areas you’re approaching have the strength to hold or if they should bounce. This is how we can keep the opportunities open and move between the areas, looking for the next one to hold.—maximizing profits and getting out when the tide is ready to turn.
Alright my friends, I hope that everyone has an excellent week and if you think you’ve got no one on Valentine’s Day—remember that I love you and I’m sending out the biggest hug!
Now let’s get out there and do this thing so I can catch you on the profitable side!
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