Yesterday’s Plan Was to Reclaim, Today’s Plan is to SQUEEZE. - Dec 19 Trade Plan
#ES_F / #NQ_F - SPX / NDX FUTURES - $SPY / $QQQ
🔹 Plan Recap
Yesterday’s result: $ES_F 82 points / $NQ_F 418 points.
Detailed trade plans shared with free subscribers and social media yesterday.
Part one would initiate the reversals:
“Before buyers can reclaim, they have to backtest. The 4 hourly timeframe is setting up the “breakdown backtest long” - that targets ES $6805-$6813 / NQ $25080-$25117.”
That triggered and hit target:
The next step was for buyers to absorb the rejection (green path, Alt. 1 of trade plan):
“Plan: backtest, reject, then higher low or undercut to confirm that supports are holding, and initiate the big bounce to test the daily EMA9 at ES $6843 / NQ $25335, reject, backtest supports and then set up the big squeeze.”
That worked as well. Exactly as drawn, price rejected at my resistance zone, backtested 4 hours later (the wicks) and pushed through, exactly to my targets.
Price then exhausted into my pink bars, the resistance zones and has to consolidate to confirm that we might see higher prices - this completed the trade plan for the session.
Result: $ES_F 82 points / $NQ_F 418 points.
🔹 Quick Update
BoJ hiked rates as widely anticipated, and futures didn’t care: priced in?
All eyes on OpEx now: price is consolidating into gamma flip levels with liquidity voids above: short squeeze above yesterdays highs.
➞ TECHNICAL ANALYSIS / CONTEXT
Yesterday we bought long into ES weekly EMA9 / NQ weekly EMA14 and had to backtest the daily EMA9.
Today we have “failed breakdowns” as context for the break outs. Confirmation is acceptance above ES $6843 / NQ $25314.
🔹 Trade Plan for the Coming Session
Still playing for a Santa Rally this week. Markets are undercutting Monday/Tuesday’s bottoms. Yesterday’s plan was to reclaim, today’s plan is to squeeze.
Huge break out formations now, and we are looking the most bullish since this three month sideways market initiated. Bears are trapped. Just need that little kicker to ignite. The higher high is all that is missing, and that initiates above level 1 today.
A word of caution: OpEx remains a wildcard, but we have 4 hourly wedges above support as price has been contracting since CPI release yesterday. To confirm acceptance, all this has to do is break out.
SPX & NDX CHARTS
Break out contractions, negotiating acceptance of the given support bars.
