Weekly [10/27] Study

Oil / Gold / ES / NQ : All Rallied for SetStack.
Last Week was an incredible week for SetStack Opportunities. Let’s dive straight in.
The Crux of this Auction was identified in the Poor Low of 6600.

A Poor Low in Auction Market theory can suggest the presence of a Large Timeframe Participant present. With this context, I wanted to clean up this auction and follow the reaction. In this Auction, the Poor Low was :

1. Formed

2. Supported

3. Broken

4. Supported, with Initiation

I of course shared my thoughts within RTH and activated the Higher end of our Plan.
Once the Poor Low was proven valid, the Market rallied and continued Higher taking back the Auction Pivot, and Closing the week strong into SetStack TP I.

Weekly [10/16] Study

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10/17 - 10/24 : ES RTH [15M VP]

The Market took out the Poor Low in the overnight session, Gapped Up and rallied higher. Price met some Two-Way and filled the Gap but was unable to Initiate. This allowed the Market to Gap Up and hold Prices Higher.

Referencing the Volume Profile formed, the Market left behind a High Volume Area and traded well above it, without a retest. Despite the Market not necessarily moving very much above, this may still allude to Higher Prices welcome as the High Volume Area shifts from Attracting Price, to possible Repelling it; as it seeks Value above.

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The Bull’st Case Scenario

At the time of writing, Buyers have the wind at their sails.
An Opportunity may soon come into play if Participants with a longer term view see strength in this Low of 6600. This is was mentioned in the prior release, ahead of time.

Continuing this idea, buyers will have an opportunity for Sharp Initiation into SetStack TP II : 6980. This entire sequence may be a form of Accumulation.

Juice for Higher ++

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Sellers have been teased since the 10/10 (wen rug tweets) began.
Sharp Liquidations come at expected areas but lack significant Initiation. I say this softly as the odds of executing each perfectly would require significant accuracy. Rotations Lower can be expected to return meaningful 0DE’s, but I would rather react in this environment than seek the top. Two Areas I would look to Break :

10/16 : SetStack Pivot : 6805, and New Orderflow Pivot : 6640.

I by no means am saying Sellers don’t have Opportunity, I just don’t want to be first.

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TSLA : This name reported Earnings last week. As I suggested, the name would be stuck auctioning between 420 - 440. This contained both the Highs and the Lows for the week leading up to the event. Now, leaving behind a remarkable Rally from a missed report; Buyers have a chance to Close above the range, with conviction.

Above 440 : I will seek patient moves into 480 first, and then a move above 500.

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OIL : A selective favourite of mine. I rallied together +300 likes to pave the way for a move (nearly) +600 ticks long. This was briefly mentioned in the last release, primarily mentioned in SetX. I expected lower Prices for Oil, and Price had slid down from 60.00 down to 56.00 where I expected Value to step in.

I found the Pivot around 57.40 and Launched a conquest to 62.40 (+10%~)
Value did it’s job by rotating the Auction.

I am now expecting some two-way with an eventual lift Higher, but this likely requires some shaking of the tree. Shallow dips into 58.00 are welcome, but I would want to see them be bought up quickly.

62.40 ( our TPI ) can be a High, but not THE High.
Down a little, to break and go Higher by a lot.

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SetStack Readers Rejoice : Fulfilling QQQ $595 » $615 (+3.50%~)

Weekly [10/01] Study

QQQ : $595 : Marks the Auction Low. I suggested there will be no stopping below this.
I was Right.

I would expect further up moves to be sharper here than its Brother SPY.
This Auction is a Step Ahead of my RTH Plan, I would like the Market to give some time for them to align and take ATH+, together.

$NQ : 25450 : Support for Higher.

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AAPL : AMZN

I teased these two well before Friday Close, Sunday Open spoils some of my forward thinking ideas. These are expected to be leaders if Price wants to continue Higher.

AAPL entering ATH with a Bid over 260.

My favourite stock for general market health. I have a tweet about it.
TLDR : 205 » 240 : Now unlocking a long-time planned sequence;
Dips into 250 are expected to be bought for a move to 275 then later 300+

AMZN not at ATH with a Bid over 220.

This sleeping giant has the potential shock and awe. I am watching this name to break above some old structure around 230 - 232. If done successfully, I can see a path for Initiation above 240 and enter its own ATH Sequence. See 265 first.

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10/27 RTH+

Pivot : 6840
Longs to : 6980 / [ xxx ]
Shorts to : 6805 / 6640 / 6400

I left with a Positive view on the Market. 10 Days later we are Positively Higher.

Despite being well off its April Lows; a Second Half Squeeze has yet to be seen. Taking the Index MUCH Higher would be the icing on the cake going into Q4. If Buyers spent this time Accumulating this Wide Range ; It would be seen as acceptance and a conquest into ATH [xxx] Target : Unlisted would be my best case.

When Trading ATH, I don’t pick ATH; I get my belly full and let Price kick me off.
Real Buying.