The Financial Bit
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Daily Thoughts 2/22/23

Daily Thoughts 2/22/23

BullTradeFinder
February 22, 2023

Hi Traders-

Today was a perfect but slow downtrend day until we came into $3994-$4003 and saw some support that lifted us up 15-16 points from there and just chopped until the rest of the day.

Market is still leaning bearish but does not mean there won’t be some bounces and slick movement in-between.

Key Example Of Tweezer Bottom at $4000 Key Area.

All my levels are associated with $ES_F (S&P 500 Futures for $SPY)

Here is a fun chart I was playing with showing the curvatures of the market we are in now and we are at a key line here around that $4,000 area how funny is that?

Interesting chart with “Possible Curled Supports & Resistances”

SCENARIOS FOR TOMORROW:

Open or offer below $3994 can lead to a larger drop into $3970-$3976 levels. Initial balance will play a big part in this.
Initial Balance is the first hour of trading for example 9:30 to 10:30 A.M. EST.
If we can bid above $4021 and support $3994-$4003 I think we can have a little inside day with some resistances above around 4042-4047 possibly 4054 before 2PM hits when #FOMC minutes are released that should entail a 20-40 point move on the futures.

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