Trade Plan for 5/26-5/30
Was Last Week the Bottom of the Top or the Top of the Bottom?
Last week in the front part of this weekly note you saw me point out what I believed to be the most important level to watch for $ES/SPX futures for the week:
Here’s how that level performed:
I am a big fan of my levels! 🎯💰 We saw price snog over 5957.50 and then when it broke to the downside, we got a beautiful short on a near perfect backtest.✅ On Friday morning I sent a note out premarket that we were at a MAJOR support of 5762.50 and told my group in Discord that I was buying everything. YAY! I closed the week flat indices to start fresh this week.
I was bullish for precious metals last week and took both $GC/Gold futures and $SI/Silver futures longs. ✅ I was bearish for $CL/Crude oil futures last week.
Summary of Market Action Last Week:
Indices futures gapped down on the Sunday open and recovered to close green by Monday end of day. We saw the highs of the week on Tuesday and a decline from there. $RTY/Small caps futures lost the most ground last week, while $NQ/Nasdaq futures held relative strength.
$GDX/Gold miners advanced the most last week despite weakness in the general market as $GC/Gold futures advanced more than $SI/Silver futures.
$CL/Crude Oil futures declined slightly and $XOP/oil equities gave back some of the previous week’s impressive gains.
Here’s how last week closed out:
For the week ahead (05/26 - 05/30/25)