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 🎯.
Today’s publication gathers all the educational content posted over the past two weeks with fresh examples of real price action. We will also review the status of our high-probability setups and the Watchlist Update featuring our new daily dashboard.
As anticipated last Saturday in the Weekly Compass, the market structure in the indices pointed toward bearish moves. Declines in the S&P 500, Dow Jones, and Russell 2000 were mapped as high-probability setups:
DIA: Triggered by a loss of 525.3, which happened smoothly on Monday, targeting 514.7 🎯 (a -2.1% move versus Friday’s close).
SPY: Triggered by the loss of 763.5, targeting 750.5 (a -1.8% move) 🎯.
IWM: Bearish from Friday, targeting 281.8 (a -2.5% move) 🎯.
VXX: Bullish reversal targeting 18.5 (a +4.4% move) 🎯.
On the bullish side, I posted META with a target of 671 (a +3.6% move) 🎯, and NFLX targeting 79.4 (a +2.6% move) 🎯 WMT also made it to 108.6 (+1.3%) 🎯.
Direction was anticipated based on technical indicators transparently explained, and support and resistance levels modeled last Friday in advance for this week, the Weekly Compass is here in case you missed it:
What can we expect now? Several targets were reached, and there are more setups in progress, here are the charts and the details for the setups and additional guidance on how to use the Support and Resistance Levels.