NASDAQ FUTURES 7/30/2024
Current Focus:
Correction and Internal Impulses: I am monitoring potential corrections within the current market structure, particularly looking for opportunities to buy based on internal impulses. As mentioned last week, the NASDAQ has shifted with MSB arrays, indicating a potential counter-trend scenario.
Market Structure and Strategy:
Potential Buy Opportunity: Several conditions have aligned, suggesting a potential buying opportunity. I am preparing to scale into positions as the market progresses through Leg 3, either for Leg A or within the W-Cycle framework.
Accumulation Schematic: The current market conditions suggest a clear accumulation schematic, which may provide advantageous entry points for buys.
Execution Plan:
Scaling In: Plan to gradually scale into the market as Leg 3 develops, capitalizing on identified buy opportunities.
Risk Management: Be prepared to adjust positions and manage risk effectively based on market movements and volatility.
Upcoming Events:
FOMC and Volatility: I am waiting for the FOMC meeting or other potential volatility injections that could act as a catalyst for significant market moves. These events could impact price action and provide clearer entry points.
Next Steps: Continue to observe market developments and price action. Await further signals from key events and adjust strategies accordingly. For now, remain vigilant for opportunities to scale into the current leg while monitoring for volatility that may influence the market
Correction and Internal Impulses: I am monitoring potential corrections within the current market structure, particularly looking for opportunities to buy based on internal impulses. As mentioned last week, the NASDAQ has shifted with MSB arrays, indicating a potential counter-trend scenario.
Market Structure and Strategy:
Potential Buy Opportunity: Several conditions have aligned, suggesting a potential buying opportunity. I am preparing to scale into positions as the market progresses through Leg 3, either for Leg A or within the W-Cycle framework.
Accumulation Schematic: The current market conditions suggest a clear accumulation schematic, which may provide advantageous entry points for buys.
Execution Plan:
Scaling In: Plan to gradually scale into the market as Leg 3 develops, capitalizing on identified buy opportunities.
Risk Management: Be prepared to adjust positions and manage risk effectively based on market movements and volatility.
Upcoming Events:
FOMC and Volatility: I am waiting for the FOMC meeting or other potential volatility injections that could act as a catalyst for significant market moves. These events could impact price action and provide clearer entry points.
Next Steps: Continue to observe market developments and price action. Await further signals from key events and adjust strategies accordingly. For now, remain vigilant for opportunities to scale into the current leg while monitoring for volatility that may influence the market
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