Adam Mancini

2 months ago | tradecompanion.substack.com | Adam Mancini

Yesterday was a unique day in ES for two big reasons. Firstly, it was the first open-to-close red trend day since February 21st (which, coincidentally, was the day the current correction began). As readers know, days like this are rare in ES, even in bear markets (ES tends to flush hard for a few hours and cover lots of space, then squeeze, to close net red). Secondly, it was the largest single red day since the August 5th 2024, capitulatory low, from which we bottomed after a 600 point sell.

2 months ago | tradecompanion.substack.com | Adam Mancini

Last week into this week has been one for the record books in ES. We had three red weeks in a row, for the first time since the July into early August 2024 correction. Not only that, but in the last 14 trading days, only 3 were green, and those three green days (which included last Friday), were all isolated, with ES unable to stack back to back green days since February 19th.

2 months ago | tradecompanion.substack.com | Adam Mancini

NOTE: This is resend of the newsletter for Monday March 10th, originally sent out on Friday at 4pm, for those who did not receive. This week was one for the record books. The market - being bombarded nonstop by Tariff headlines - put in the most volatile week since the first week of August 2024 at least and in my personal opinion its been the most volatile week since Covid.

2 months ago | tradecompanion.substack.com | Adam Mancini

This week was one for the record books. The market - being bombarded nonstop by Tariff headlines - put in the most volatile week since the first week of August 2024 at least and in my personal opinion its been the most volatile week since Covid. Not only were we 9 of the last 11 days red heading into today, but every day this week ES saw at least one 100+ point move and in the case of Tuesday and Wednesday, multiple bi-directional 100 point moves.

2 months ago | tradecompanion.substack.com | Adam Mancini

My newsletter yesterday was entitled: “Rare Green Day For SPX, But Will It Get Sold Like The Others?”. The answer, was yes. As discussed at length, this week has been the most volatile and complex since the first week of August 2024, with 100 point bi-directional moves being the norm daily. This action is driven by clear external causes (Tariff Headlines) but the technicals as always gave us the broad structure that those Tariff headlines would bounce price around in.