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ES Daily Plan | February 16, 2023

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Daily and Weekly trading plans for E-mini S&P 500 Futures (ES) that include accurate levels and market context. The plans are presented in a clear and concise format with visually appealing charts using my concepts of Smashlevels and Smashmodel Extremes.
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ES Daily Plan | February 16, 2023

The market remains in a state of consolidation after today's inside day, coiling for a move. PPI data tomorrow premarket.

Smashelito
Feb 15, 2023
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ES Daily Plan | February 16, 2023

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Contextual Analysis

NOTE: I'm away from the desk for the next few days, so the daily plans will be provided in a condensed, commentary-free format. Regular, detailed plans will resume on Wednesday, February 22nd.

Today’s session ended with an upward spike. Trading within and above the spike (Acceptance) is a more favorable outcome for buyers, as that confirms the higher prices of the spike. Trading below the spike (Rejection) is a more favorable outcome for sellers as that negates the higher prices of the spike.


Going into tomorrow's session, I will observe 4154.

  • Holding above 4154 would target 4175 / 4192 / 4208

  • Break and hold below 4154 would target 4135 / 4125 / 4109

Additionally, pay attention to the following VIX levels: 19.16 and 17.30. These levels can provide confirmation of strength or weakness.

  • Break and hold above 4208 with VIX below 17.30 would confirm strength.

  • Break and hold below 4109 with VIX above 19.16 would confirm weakness.

Overall, it's important to exercise caution when trading outside of the highlighted yellow levels. A non-cooperative VIX may suggest possible reversals i.e trade setups.

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Be sure to check out the Weekly Plan, which provides a broader perspective and highlights significant levels of interest to watch in the coming week.

Smashelito's ES/SPX Newsletter
ES Weekly Plan | February 13-17, 2023
🟥 Daily: OTFD | Ends: 4104.25 🟩 Weekly: OTFU | Ends: 4069.75 🟩 Monthly: OTFU Weekly Extreme High: 4225 Weekly Extreme Low: 3970 As usual, a detailed daily plan will be published tomorrow…
Read more
10 months ago · 27 likes · 12 comments · Smashelito

Disclaimer: Futures and options trading involves a high level of risk, with the potential for substantial losses. The information provided in this newsletter is for informational purposes only and is not intended to be a trade recommendation. It is the responsibility of the reader to make their own investment decisions and they should seek the advice of a qualified securities professional before making any investments. The owners/authors of this newsletter are not certified as registered financial professionals or investment advisers. Twitter: @smashelito | FAQ: smashelito.com

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ES Daily Plan | February 16, 2023

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ES Daily Plan | February 16, 2023

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Nitin Wadhwa
Feb 16

Or even jigsaw? Please let me know. If anyone can help me out I would greatly appreciate it.

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Nitin Wadhwa
Feb 16

Please tell me if you use trading view or sierra charts for all this. I would really appreciate it.

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