Breakouts on the daily do work but on yesterdays breakout there were some elements that should have signaled an earlier pause,
I have found daily charts great for day trades. Breakouts. Failed breakouts. If I'm not married. To a thesis. I have no problem. Buy breakout. Small loss. But short failed breakout. On five minute chart usually a "heads up". Want to thank you @Zodiac4u for bringing up SPY a couple weeks back. Been watching both. SPY and ES. Side by side charts. I thought ES was boss. More I watch. the more I think SPY the boss. During day time trading.
, $SPY cash is king for sure but $SPY is also being pulled by Options, we are all just watching shadows of something else,
I see this talked much about on Fintwit. I don't understand this either. But I'm learning. Trying to learn. Saw this today. https://www.tradingview.com/chart/SPX500USD/mrkaajpP-S-P-500-Gamma-Update-EOD/ I don't understand how this can be used for trading. Some can use I think. So maybe worth learning about?
$SPY looks like its heading towards 60, I couldn't type fast enough but we are below now, unusual vol, when I see this much we usually get a follow through,