Preparing ES Emini and MES Micros Traders To Trade In Our S&P Trading Room
Opening Remarks
Good afternoon, guys! Thanks for the likes—two people, two likes—that’s 100%! Alright, I just want to compare RTH to RTH.
Market Observation and Setup
No single prints yet. That won’t be confirmed until this bar closes, in another 15 minutes or so. Switching to a 3-minute chart.
Possible single prints in 15 minutes—keep an eye on that.
Looking again at the strong levels. We’re trying to get above the bull/bear line and having trouble, but we’re holding. You can’t count the bulls out—they’re above the open, above VWAP, and now pushing above the bull/bear line.
I don’t currently have a trade I’m interested in. If I had been here earlier, I would’ve taken the short—had one setting up, but by the third attempt? No way, man. Look how many times that strong level held, and each time it got closer. It looks like the bears might be giving it up.
If we ladder above this strong range, the halfback becomes critical. It’s a toss-up now. The bulls aren’t showing strength in building a backside, and there are no clean reversals either—frustrating!
Price Action Analysis
We’re above the bull/bear line with some of the ugliest laddering I’ve seen—but laddering nonetheless.
Hello David, hello Mr. James Paul. If you were long from the opening, that was a great trade. Not sure if that’s the one you took.
Honestly, there’s not much here to act on. Just watching.
We’ve crept back into the bulls’ court.
On the 3-minute chart, it feels like I’m on a 1-minute—very volatile.
Reminder: those aren’t confirmed single prints yet.
Bias and Trade Decisions
I’m having a hard time going long at these levels. It’s nice to see some balance, but I don’t yet believe in the bulls.
Afternoon, Mr. Scott. I just got a wild hair—had a great sandwich, and thought, “Let’s go live stream.”
I debated taking a long here but decided to just watch instead.
New Highs and Market Sentiment
We’re seeing new highs. With a big move yesterday, today’s slower pace doesn’t make much sense.
Trump is going to visit Canada in June. That’s interesting, but not market-moving for now.
We’re about 90 seconds from the bottom of the hour—still no trades. Single prints become legitimate in about a minute.
Confirmation of Single Prints
Single prints are now confirmed.
I’m actually hoping for a late-day pullback—it might create an opportunity. It’s difficult to go long up here, but bulls have done well today.
Not much else happening—kind of what we expected. We’ll watch a little longer.
We’re very close to confirming bullish sentiment. This support held well, forming a decent trend line. Now we’re above the bull/bear line, after several small tests. It’s not exciting, but technically it’s in the bulls’ favor.
Technical Recap
We’re above the opening, above VWAP, and above the bull/bear line. That gives bulls control for now. However, we’re still in the lower distribution of yesterday’s range—not an impressive breakout.
We took out the overnight high and are holding the structure. It’s bullish but doesn’t inspire confidence for new entries.
If we had bounced from here like we did earlier and pushed past key levels, I’d say shorts should be cautious. But right now, I can’t go long or short—there’s no edge.
Still hovering—wondering if Pac moved up. Nope, Pac is still down there.
Trade Setups and Considerations
I’d consider a trade if price reacts clearly at these single prints. It’s a small range—less than two points. Might be worth a low-risk long.
That said, bulls lack new buyers above the bull/bear line, and there’s no clear backside structure. I’m not taking the trade, just observing.
Let’s see what happens. The range is too tight, and the reaction is too weak to act.
Missed Opportunities and Risk Management
Missed my earlier short by one tick. Back to the drawing board. Had a 2-point stop, would’ve been a good setup. If it makes a new low here, be cautious—tighten stops.
When I miss a trade by a tick, I usually wait for the next setup and go greedier. Let’s see if the fair value gap holds.
If you shorted there, the stop would be just above the gap fill. Good setup.
Let’s take a look at everyone else—still struggling up here. Someone’s going to give in soon.
Market Conditions and Trader Psychology
Nothing clean on the chart right now. At least we had movement in the morning. I’ll wait it out—still green for the day. Not much, but green is green.
Sometimes you just bunt and help your account—nothing fancy.
That single print trade would have worked well if held, but it’s hard to hold in such ugly action.
Charting and Technical Patterns
You’d have to draw an upward trend line in RTH, but it’s ugly. Two days of advanced setups—basic trades look sloppy.
No need for cluttered charts—keep it clean.
Every break level has been tested; no backsides, barely a front side. I wouldn’t even count that doji unless we were clearly laddering up.
Daily Trade Review
Funny enough, I didn’t take one RTH trade today. The only trade I took was pre-RTH. Tried to get long on YouTube live, but it didn’t give us the fill.
Let’s turn back on the strong levels.
Doubles, doubles… those single prints really would’ve been the trade. But hard to go long when every rally ends in a pullback.
Market Action in Power Hour
Made a new high—let’s drop timeframes and see what’s going on.
It’s Thursday, not Wednesday—just checked. This new high… not doing much with it.
Officially the power hour. Still hoping for a big drop—not planning to short without a setup, though.
We’re laddering above the bull/bear line. Careful with shorts. Bulls have control for now.
Broader Perspective and Levels
Let’s put it into RTH-only, 10-minute view.
We haven’t even retraced half of yesterday’s move—not much to get excited about.
Back to our 3-minute base chart. RTH side-by-side makes it easier to track. Overnight sessions are irrelevant unless we start vomiting down.
This strong range holds the London low. Grinding price action like today is tough unless you’re already in the move.
Strategy and Patience
5900 is just 10 points away, but we’re watching ugly new highs. Nothing clean. Just ugly.
We’re still above the bull/bear line. Ugly price action, but bulls are winning technically.
I’ve got nothing actionable—just watching. No reason to force a trade.
We’re in the lower distribution of yesterday’s range. Nothing spectacular, but bulls have won the day.
Final Hour Perspective
That single print bounce? Toughest 17 points of your life.
Another new high, touching strong range again.
Why do I trade ES? Because it’s well-behaved. It follows our system almost flawlessly.
It doesn’t “color outside the lines” like NQ. That’s why I prefer it. I’m not trying to predict, just playing the bounce.
Above the bull/bear line—I’m not shorting here. But I hope it drops—for your sake, Mike!
Reflections and Discipline
If gold or oil worked better for our system, I’d trade that. But ES works well for me. I like trading instruments tied to a basket of stocks.
Too much headline risk in oil or gold. Not worth it for me.
We wait patiently for our trades. That’s the key.
Today, bulls won the opening, VWAP, and took out the overnight high. But I still don’t trust the up move.
Key Levels and Market Mechanics
I want to see a drop to 5773. We’ve tested this level multiple times—if it breaks, we could move sharply lower.
Still not shorting from up here—plenty of room for price to move.
Even though bulls control today, they haven’t done much—they’re still stuck in yesterday’s lower range.
Final Trades and Closing Thoughts
Another bounce off a strong range. That’s what we do—we don’t predict, we play the bounce.
If you shorted the value area high, that’s your trade. Place your stop at the POC or value area high.
Sometimes you get five points, sometimes 40. That’s trading.
End-of-Day Wrap-Up
Final 30 minutes—dangerous time to trade. If you’re in a trade with profit, hold. If not, exit.
Back under the bull/bear line—great! I really want to see 5773. May not happen in RTH, but could overnight.
Back to POC—a win for the bears. Bulls failed to build a proper backside.
Don’t get caught up in predictions, Mike. Trade the setup, not the speculation.
They couldn’t get away from the POC—they came right back to it.
Closing Remarks
Only four minutes left. Tie ballgame today—bulls vs. bears.
Green over more—that’s the goal. Took out the low, back to POC. Beautiful.
Not sad I didn’t take the trade—didn’t meet my criteria. Another setup will come.
Well, guys—that’s it for me. See you tomorrow!
