Oh yeah! Market just closed up here on Friday, the last day of June 30th. This Traders Market Intelligence report is brought to you by WealthBuildersHQ.com. My name is Robert Roy, and this update is for the 3rd of July, 2023. I am all decked out, ready for the weekend already. Ladies and gentlemen, I cannot wait. My fourth weekend starts, manana. We’ve got a family party tomorrow. I am stoked. Cannot wait to get started. I’m signing on the sunglasses and seeing what we’re doing here. As we get started though, keep in mind everything we look at is for educational purposes. Nothing’s meant to be advice or recommendations. If you like what you see, make sure you confirm that it fits your own personal risk profile and risk tolerance. Never, ever, ever take on a strategy, a trade set up, anything that you don’t like and does not fit that profile.
All right, so with that, let’s go ahead and jump right in. We’ve got the S&P 500 and it finished up today. Woo, baby. Did it finish up? What’s that? Like 53 and jingle today? What a great move. 50, almost 54 points. So you can see the entire fib here on TradeStation goes back here let’s see, into February…it’s actually January, right? So we’re about six or seven months old now. Good fib. We’ve got our 4181 level in there. Now, the reason I’m bringing it back is so you can see the beginning of the fibs is look where we closed today. Okay? And the last attempt, we’ve now closed higher, right? The expectation that the Fed is actually going to cut rates this year. Amazing, right? That’s, that happens, but that they’re gonna cut rates this year is big. Okay?
So if we bring it back a little bit further, we have gotta go all the way back, hit April of 2022 before we saw levels at that height of where we are right now. So, year and jingle, really nice move up to this point. Great stretch, great pull to the upside. I am very excited for this overall setup there. If we go ahead and look at the VIX from todaywe’re we’re up pennies today. What, 5 cents? Yeah, 5 cents today. Nothing. Nothing for us to worry about, right?
So what are we looking at then for the S&P 500? Where are we looking to go for the next week? All right, so we’ve got this -.618 right now. We’re looking for a break outta that .618. We may get a fail. If so, look for the eight moving average as a stopping point, and that’s per day it will change. Each day it changes. If we violate or we start moving down, the eight’s gonna move down. We’re gonna look at that -.382 to 4350, call 4360 level, right? If we break to the upside, this is a little bit a bigger amount that I’d like it to be, so I’m probably gonna go ahead and want to split that level in half in there. Put a fibot inside of there that’s a -.809 on Omega Chartz, but it takes me right about there. What is that? 4540 will be our upside. Break the -.618, retest and bounce, and we’re looking for that 4540 level as our next upside target.
All right, there you have it. Ladies and gentlemen, everybody’s working for the weekend, right? It is here. Enjoy yourselves. Be safe. Watch what’s going on with these fireworks and these crazies out there, the way they drive with that. Make it a profitable day. Stay focused on the quest to becoming a great trader. Keep crushing it. And remember, if you like what you saw here today, go ahead, subscribe, ring that bell, follow along with us here. Leave a comment down below, share the video. All of that stuff helps us in the in the algorithms right? Helps us to continue to grow. And remember, remember, remember, you’re just one trade away. Take care everybody. I will see you at our next update. Bye for now.
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