Trade The Open Lesson & Macro Market Update

I Hope everyone is enjoying the holiday season. It’s been a weird one for me - for a variety of reasons, but I lost some close family unfortunately and just been focused on that sad priority as of late. However, I wanted to finish this month and year strong - so I’ll have some bigger picture updates this week for both Crypto and Macro but I wanted to share an intra-day lesson from today in the below videos.

Here’s today’s recap I did for our new PROP DESK (here’s a link about the details of that program here below also)

- which is new by the way and we have 8 out of 12 on the team for now - I’d like to make it a dozen by year end for a focus on a big start in the first quarter of the new year.

Today’s trading the open lesson is here….

As far a global macro for the rest of the week….what’s key is watching the TMS or Technical Market Structure for how we determine true trends for any particular market, and the big picture trend levels - or when these pivots break in conjunction with the volatitly levels and trend is key.

Below is S&P futures and notice each time price has tested the AREA of the bands as we call it at JRM, along with low cycles and oversold readings the price action and market has held trend. September was the last hold with a very technical inverse head and shoulders but also notice each major top most recently the ATHs (all-timehighs) has been met with good cycle highs and oversold RSI as well.

So all very technical and precise in our model - but from here last week’s low is MAJOR - MAJOR MAJOR MAJOR!. If price cant hold the TMS /trend then a move below 4500 and a test of Sept lows is almost inevitable. This is what matters most for the rest of Dec into month and year end.

Also note today’s potential lower high at/or near the descending 8 day mov avg all very indicative of the most recent intermediate-term down trend. As such we reset some shorts today after good covers last week into the “Omni-crap” narrative lows.

Keep an eye on this pivot - and I will be updating how to play it going forward.

Enjoy the videos….crypto update still to come….

Cheers,

JJ