Trade Plan for 7/20-7/24

July Buy or Die

I started last week with a bullish bias despite weekend news, because for me, $ES/SPX futures was a breakout on both a weekly and daily basis. More importantly I used my levels to navigate the trading week and those levels are spectacular (if I do say so myself). Despite the down week, so far $ES/SPX futures has held the breakout – so this week it’s all about continuing to hold – or breaking down.

From Friday morning’s note:

Here’s how it looks on the hourly chart:

I gave commentary and circled the ‘near miss’ of the top support as it happened and indicated that I thought it would be the low. I warned that if it wasn’t, the rest of the support would likely get flushed. I explained my reasoning and it was a great trading day.

I continue to believe that $GC/gold futures has done just enough to be constructive for higher, but I warned that both $GDX/gold miners and $SI/silver futures looked ‘iffy.’

I have a surprising intermediate bias for $CL/crude oil futures and outline why I think what I think and what I am looking for.

Summary of Market Action Last Week:

· After a choppy low range week, the indices declined on Friday and closed red for the week. $RTY/small caps futures held relative strength despite a slightly negative week, after relative weakness for the two previous weeks.

· $GDX/gold miners continued flushing and metals closed lower. $GC/gold futures has shown relative strength to SI/silver futures in the past few weeks.

· $CL/Crude Oil futures gapped up and held advancing into the end of the week. $XOP/oil equites was the relative strength equity winner for the week.

Here’s how last week closed out:

I broadcast hourly charts with weekly and daily levels 23/5 on Discord while futures are open. I give commentary and positioning during market hours.

For the week ahead (7/20 – 7/24/26)