Here is a mid-week review for the S&P 500 using my trading setups. The S&P 500 still looks bullish to me and these pullbacks are to be expected. I am looking for price to break up either Thursday or Friday to complete the reverse lightning trade on the 15 minute time frame and to move the stop up for the 38-127 short trade.

For the long side, we have a long setup on the 15-minute chart. Also on the daily chart, there is another reverse lightning trade setup so things are still looking good for the bulls.

On the short side, we do have an active 38-127 trade that still needs to get fulfilled. What I think happens is price goes up to fulfill the reverse lightning trade on the 15-minute chart and also pulls up the exit from hitting the 61.8% Fibonacci retracement level.

Hopefully, these mid-week reviews are helpful. Since most people care about the S&P 500 or the e-minis the most then that is the instrument for the mid week reviews I am going to focus on.

Video: S&P 500 Technical Analysis e-mini mid-week review

Popular Links

Here are a couple of links if you are looking at how I view the market and some trade setups. You can create your own trading style and setups. Quit paying losing traders to teach you. The only thing they teach is how to lose money.

Meditation:
https://evancarthey.com/how-to-become-a-profitable-trader-using-meditation/

How to scan for winning stocks
https://evancarthey.com/how-to-scan-for-winning-stocks/

My Robinhood Shameless Plug

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This way each of us will receive a free share of a random stock if you sign up through my referral link.

My Robinhood Review:  https://evancarthey.com/review-robinhood-trading-service-with-no-fees-part-1/