Indices Falling as Anticipated - What Comes Next
Last week, we studied how to read the Setups Blueprint posted every weekend, covering momentum conditions, target prices, risk-to-reward ratios, and invalidation levels.
We also reviewed how to manage support and resistance levels. Today, we will revisit them to reinforce the core concepts and examine the high-probability setups posted last Saturday, which accurately anticipated the decline in the indices and their targets 🎯.
As anticipated last Saturday in the Weekly Compass, the market structure in the indices pointed toward bearish moves. Declines in the $S&P 500(.SPX)$ $Dow Jones(.DJI)$, and Russell 2000 were mapped as high-probability setups:
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$SPDR Dow Jones Industrial Average ETF Trust(DIA)$ : Triggered by a loss of 525.3, which happened smoothly on Monday, targeting 514.7 🎯 (a -2.1% move versus Friday’s close).
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$SPDR S&P 500 ETF Trust(SPY)$ : Triggered by the loss of 763.5, targeting 750.5 (a -1.8% move) 🎯.
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$iShares Russell 2000 ETF(IWM)$ : Bearish from Friday, targeting 281.8 (a -2.5% move) 🎯.
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$iPath Series B S&P 500 VIX Short-Term Futures ETN(VXX)$ : Bullish reversal targeting 18.5 (a +4.4% move) 🎯.
On the bullish side, I posted $Meta Platforms, Inc.(META)$ with a target of 671 (a +3.6% move) 🎯, and $Netflix(NFLX)$ targeting 79.4 (a +2.6% move) 🎯 $Wal-Mart(WMT)$ also made it to 108.6 (+1.3%) 🎯.
Markets are always moving - and sometimes, the best move is knowing what works for you.
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