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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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Smash ES Plan | December 12, 2022

I've switched to the March '23 contract.

Smashelito

Dec 11, 2022

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Recap & Plan

I’m switching to the March ‘23 contract tomorrow. Friday’s session on this chart is from the March ‘23 contract and all intraday targets for tomorrow are based on references from that contract. Previous week‘s volume profile is from the December ‘22 contract, meaning Friday‘s session on this chart is not included in that profile. Many questions regarding back-adjusting or not. I haven’t back-adjusted my charts before due to a lot of people using Continuous Contract ES1! in Tradingview. However, Tradingview has recently added an option for back-adjusting so let me know how many of you do prefer to back-adjust your charts in the poll below.

As always, check out the Weekly Outlook for a view of the bigger picture, where I have highlighted some significant levels of interest to observe for the coming week. What I failed to mention is that the Monthly Extreme Low is at 3815, where we have a weekly NVPOC as confluence.

ES/SPX Daily Trading Plans

Smash ES Weekly Outlook | December 12-16, 2022

a year ago · 15 likes · 3 comments · Smashelito

Friday’s session ended with a spike down since M-period (last 30 minutes of RTH) made a new daily low. We need to observe if the market will accept or reject the lower prices of the spike. Trading within and below the spike (Acceptance) is a more favorable outcome for sellers since that confirms the lower prices of the spike. Trading above the spike (Rejection) is a more favorable outcome for buyers since that negates the prices of the spike. As mentioned in the Weekly Outlook, my main focus is on previous week’s main distribution.

We have CPI, FOMC, and Quad Witching, meaning we need to exercise patience, discipline and above all, risk management. That is how we last in this business, without capital it’s hard to call oneself a trader. Mind your entries and stay nimble.

Adding two VIX levels, 24.00 and 21.66. Track the correlation with ES.

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Disclaimer: Futures and options trading involve high risks with the potential for substantial losses. The information contained in this communication is for informational purposes only and does not constitute a trade recommendation and should not be construed as such. The reader bears responsibility for any investment decisions and should seek the advice of a qualified securities professional before making any investments. Owners/authors of this newsletter are not certified as registered financial professionals or investment advisers.
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