July 29

It's all about being slower in the implications of my analysis. Yesterday, the ideal thought process would've been. Okay, we're in a clear downtrend on the 10m. The 21e has been a consistent declining level. If price makes it back into the 10m ribbon without a clear reversal setup, then I should scale at resistance. Then I can zoom lower to ensure there are reversal indications taking place in the ribbon on the 3m. If so, then scale in more at the 3m resistance. It's all about what IS happening on the 10m. And, the pause for implications as to probabilities. Just because we're at support doesn't mean take calls. It means don't take puts and defer to the higher probability direction based on the higher time frame. I've got this. Just requires patience, pausing, and scaling!

Daily and 4h

Ribbon and structure very bullish still. 4h 8e just held as support. 1h 21e just held as support.

10m

Call trigger is clear support. 386 was tapped in premarket, so an indication of further movement up. However, given we're gapping up, we may gap fill to PDH on SPX before continuation. Interestingly enough the call trigger on SPY coincides with PDH...

Bias is up. Support is at the call trigger. As the 21e tries to flip red, we'd still need to create a LH before thinking downside. Or a double top at premarket high. The key as always is extreme patience.

Consumer confidence and Jolts is at 10a. Tomorrow is GDP, ADP and.... FOMC!! Caution today. No need to get burned before the move actually happens on Thursday.

Bullish bias. Call trigger was perfect dip buy. But I'm being patient. I'm waiting for obvious.

Am I hesitating or being patient? When in doubt, stay out! I'll wait. Plus news at 10a. No need to put capital at risk.