Thanks Smash. I've been trying to figure out how people see the market in balance across multiple time-frames and you give a description of this in the "For this week" section. Think I'm finally starting to wrap my head around it.
Hi Smashelito! Fantastic again! Stellar superstar! Question please: do you chart on the /ESZ23 chart or do you chart on /ES. this is my 2nd /ES contract roll as I’ve started with futures (over from options on SPX). So I’m unsure if it’s best to chart on the actual /ES chart or the /ESZ23. Thank you for all you do.
Oh and 1 more, I see ES as in a 5-week balance. Can you kindly explain why you say a 4-week balance only? Thank you!!!! 🙏🏼
Thank you! ES1! continuous contract, non back-adjusted. However, TradingView rolled already on Friday. You can interpret it as a 5-week balance, but the range remains the same anyway, (H: 4547.50 L: 4350).
It's from the September contract. The daily balance is not that important right now as we will immediately gap higher on the December contract tomorrow. As mentioned, I simply deal with the roll gap as I don't back-adjust my charts.
Daily levels/plans hold greater importance due to their enhanced precision and potential for change. The crucial element to monitor in the weekly plans is the weekly support and resistance areas. These areas provide valuable guidance on where to exercise caution when initiating trades. While day-to-day navigation remains crucial, it's equally important to consider the broader perspective.
Thanks Smash. I've been trying to figure out how people see the market in balance across multiple time-frames and you give a description of this in the "For this week" section. Think I'm finally starting to wrap my head around it.
Thank you, buddy—a great job, as always.
Thanks. It makes sense to me now
Hi Smashelito! Fantastic again! Stellar superstar! Question please: do you chart on the /ESZ23 chart or do you chart on /ES. this is my 2nd /ES contract roll as I’ve started with futures (over from options on SPX). So I’m unsure if it’s best to chart on the actual /ES chart or the /ESZ23. Thank you for all you do.
Oh and 1 more, I see ES as in a 5-week balance. Can you kindly explain why you say a 4-week balance only? Thank you!!!! 🙏🏼
Thank you! ES1! continuous contract, non back-adjusted. However, TradingView rolled already on Friday. You can interpret it as a 5-week balance, but the range remains the same anyway, (H: 4547.50 L: 4350).
Thanks Smash! You’ve helped me to change my trading game. Thank you!
With the rollover, the divergence between SPX and ES is more than 50 points. Incredible and thanks for the usual great work
Hi Smash, Are the daily balance numbers of 4494.25 and 4434.25 in the weekly report based on the September or December contract? Thanks.
It's from the September contract. The daily balance is not that important right now as we will immediately gap higher on the December contract tomorrow. As mentioned, I simply deal with the roll gap as I don't back-adjust my charts.
How should day traders treat your weekly analysis vs daily analysis? Thanks.
Daily levels/plans hold greater importance due to their enhanced precision and potential for change. The crucial element to monitor in the weekly plans is the weekly support and resistance areas. These areas provide valuable guidance on where to exercise caution when initiating trades. While day-to-day navigation remains crucial, it's equally important to consider the broader perspective.
What is the basis for ESU Settle 4461.75 and ESZ Settle 4511.25?
Reference points I carry forward.