Updated

Year VWAP and 50% Fib Bounce, It was time

Couldn't get any more perfect there.

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Another tap this morning on Year VWAP

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Seems like a long to me after that little news blip event. I usually don't trade the news but this seems like a legit double bottom

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Target for today a backtest of the Weekly S3 CAM pivot, circled in yellow and price marked.

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Still holding 21-day lowest close and year vwap. I continue to build longs here.

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Typo in one of the balloons

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Cool post I found today, looks good.

goldtadise.com/?p=431011

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My target is the test of the weekly ATR trailing Stop above at 2810.

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To see what this weekly ATR stop actually is, here is a better view with circled areas of retesting.

I see two possible scenarios of how this plays out.

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Yet another bounce here on the Year VWAP and 2`-day lowest close. This looks pretty good to me and a nice inverse H/S.

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I like what I am seeing here.

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Target remains the 2805 area.

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Price will have to break above the 61.8% fib and neckline to make this trade possible. The last time we reached the 61.8% fib at 2745.00 it was perfectly rejected.

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The inverse H/S is being shown for SPY, DIA, QQQ. Bonds sold off all day today.

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SPX behaving as normal for July, I expect this to be over in about 2 weeks when we top out. imgur.com/a/hIvg3dk

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Super stubborn neckline.

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Closed half of this trade and moved up stop to 2775.00
We have successfully broken the 21-day highest close and the 78.6% retracement is just above @ 2803. My original target was 2810 but I will dump it all there.

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200 B in more tariffs announced 5 minutes to futures close at 4:55 EST today. Glad I took some off the table.

Trade closed: target reached

mortdiggiddy

Find the edge.

Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
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mortdiggiddy

Find the edge.

Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy

Also on: