Morning Outlook - ES/SPX

7/25/2024 - Thursday

Jul 25, 2024

Good Morning Traders!

After yesterdays sell provided by the spot on daily smack the ATH from Tuesdays pre -market call we had the largest red day of the year so far. At the close yesterday the S&P was down over 100 points and Nasdaq down over 700 points. So with such a blood bath yesterday what is in the cards for today? Well we have continued to slowly creep down in the overnight and We have major news once again today. GDP and Unemployment which will no doubt give us a shake once again. ES is approaching Support on in the 5442-36 area and we are currently into minor support on SPX. IF this area fails we could slide again much further down. Let’s take a look at the potential areas for today as we honestly could go either way. I do think money could be made in either direction and given the current momentum down we should be leaning to the down side even if we get a healthy pop. Take a look at the more in-depth video for more details.

Trade safe today it could be a doozy
Cheers
Ryan Bailey

Conquer the Markets Trading Plan

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