ES Futures Update Wednesday February 14, 2024 Panic Mode Yesterday, Today Whipsaw Wednesday. One day after seeing the SP500 at a new all-time intraday high, investors were in panic mode yesterday, and today the market acted like nothing happened. This week is options X week which brings a lot of volatility and traders call today whipsaw Wednesday. It is very rare that the market starts a new downtrend during options X week. The market makers are usually done with what they need to do at the end of Thursday but sometimes it can last until early next week.
SPY 5 Minute Chart
ES Pivots for tomorrow, We have a Neutral trend for the ES 30 minute chart.
Today ES Futures Chart 5 Minute
The daily chart sets the trend for day trading. Larger charts always take precedence over
smaller ones. For instance, the Daily chart for the S&P500 is currently in an uptrend. If you only buy pullbacks for day trading, your chances of being a successful day trader will increase.
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