S&P 500 No Trade — 2024-01-29
The objective is not to grade the P&L. It is to grade the decision.
Charts
Trade Review
1/29/24 #SPX Weekly Outlook
Going into the last week of January, we chopped higher to continue to make fresh all time highs but the price action struggled to take the highs out with a clear stance on a continuation due to the earnings coming in mixed overall.
4 of the 11 sectors were down today with tech being down 1.05% and likely the driving factor in the stalled rises of price. We closed flat and placed a 3rd PDL inside a 4H+FVG. If we trade below this we could definitely see a strong move down. On the 1H, we also placed a session low inside a new 1H+FVG and that will be my first POI to consider a trade from.
Chart Links
Cory publishes the working thesis before the session, not after — this Playbook and Trade Review are part of that same documented process. No signals, no highlight reel.
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