Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion

Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion

Share this post

Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion
Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion
Major Multi-Month Breakdown For SPX, Can Bears Hold It? August 16th Plan

Major Multi-Month Breakdown For SPX, Can Bears Hold It? August 16th Plan

Aug 15, 2023
∙ Paid
82

Share this post

Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion
Adam Mancini's S&P 500 (SPX/ES Futures) Trade Companion
Major Multi-Month Breakdown For SPX, Can Bears Hold It? August 16th Plan
8
Share

As readers recall, I was long into the close yesterday looking for a push to 4515 major resistance followed by a dip and it should be no surprise what happened at 4515 overnight - we dipped yet again, as ES remained stuck in a 1.5 week bi-directional range, the largest of its type since May 2023, and December 2022 before that. Late today - we finally broke the range down.

I wrote yesterday: “We remain in an extremely choppy range and I consider the entire zone between 4515 and 4459 to be chop” and its no coincidence that we rallied to ~4517 overnight, then promptly sold all the way back to 4459, which was where we spent the whole day basing above. This level was a major, multi-month trendline as discussed extensively, and after a full day of chop, it finally cracked and this is the most significant technical breakdown in many months.

ES has now been red though for an incredible 9 of the last 11 days. Can it sustain more downside directly, or will it be a major bear trap? In today’s newsletter I’ll be talking this, then I’ll be going over todays highly complex action and how I traded it via my system (it was one of my busiest sessions this year), and I’ll conclude by providing the actionable trade plan for tomorrow.

This post is for paid subscribers

Already a paid subscriber? Sign in
© 2025 AM Trade Companion Inc.
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share