The S&P 500 was lower approximately .5 percent last week. Lots of volatility over the last month however the S&P 500 remained in a large trading range. I describe my weekly plan below.
Whenever key levels are respected whether it is TA, market profile, GEX I view it as smaller players are in control. It does not mean that the following day we will see a continuation of smaller player control. It is one data point to carry forward in your daily trading narrative. Think in terms of probabilities rather than absolutes!
Just found your X account and substack, really great writing, thank you for sharing. Point #2 in your first section - am I oversimplifying to interpret that as: on days when key GEX levels are respected (such as closing right at one of the levels) short term players are dominating so there is a higher likelihood of the levels being respected the next day?
I would tend to agree with your point when specific points on the chart are respected. This would hold true for volume profile as well, that is when nuance levels are respected.
Whenever key levels are respected whether it is TA, market profile, GEX I view it as smaller players are in control. It does not mean that the following day we will see a continuation of smaller player control. It is one data point to carry forward in your daily trading narrative. Think in terms of probabilities rather than absolutes!
Just found your X account and substack, really great writing, thank you for sharing. Point #2 in your first section - am I oversimplifying to interpret that as: on days when key GEX levels are respected (such as closing right at one of the levels) short term players are dominating so there is a higher likelihood of the levels being respected the next day?
I would tend to agree with your point when specific points on the chart are respected. This would hold true for volume profile as well, that is when nuance levels are respected.
Thank you for your response.