Market Recap June 26 2023

$SPY $ES

Pre-Market Analysis:

Last week of June. Overall structure shows that the market is still in a “downtrend” and I need to see change of character before we can start looking for long entries.

Most notably, we need to see those EMA’s flip and re-stack. Until that happens, any long entry needs to be confirmed as A+.

There is not much room for error as we know sell machines stack on the 9 and 21, crushing hopeful longs.

Keep your stops tight. This is not the environment to care about being right. Lose like a pro, manage your risk.

Keep an eye on price in relation to the 171 (purple line). A hold or rejection can lead to a irrational move in the market.