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May Trading Begins, Fear/Greed Hits Extremes- 2May, 2022

This blog will hold – the fear and greed index, new trading levels for the futures, chart conditions, the economic releases for this week, and the key setups for futures levels that I will be trading.

Market Outlook- VIX above 30- bearish but oversold. Watch the opening tick and the four hour levels- although the bounces are likely to be selling zones at first pass, if the fear and greed levels hold, we will likely see a reversal bounce.

Fear and greed index showing a potential reversal as fear greed index measures extremes

ES_F – resistance 4150- bounces are selling regions until the breach and hold of 4150, and below 4126 sellers will become braver. Note the support to the left that suggests traders will try to battle there

The levels noted represent automation calculations for congested price action

A look at the profile for the ES_F

Trading levels for the futures have been adjusted –

This is a FOMC week – and we could see the Fed deliver 50 basis points this month. We should see another price shock to the south.

Tier1 Alpha measures gamma flow by the bell curve below – and we see that Friday’s move was extreme

Max pain for expiration