Market analysis for May 19th, 2024

Welcome to the weekend and the supercross finale! 

Sorry. Yes, this is a trading blog! Yesterday was not an explosive day for us but everything just clicked again and we ended up solid at the close. Once again, scalping came in clutch. I was not excited at all about what we were going to get out of our 0DTE's. Volume is dead! Markets are stagnant. Earnings season is coming to a close. Everyones just waiting for next weeks economic reports when things should start picking up, volume wise. We did one scalp yesterday and in lasted 17 minutes. It yielded us $1,853 dollars of gross profit on $3,570 of buying power. We will be looking to expand our scalping program to five days a week (if I can figure out how to manage it and keep all the balls that I'm juggling in the air). If you are interested in becoming a full-time trader, scalping is an essential skill to master. Adding an extra $50,000 to $100,000 a year to your bottom line is not too bad either.
After the dust settled my net liq was up $3,700 on the day. Scalping and our 0DTE's were the main contributors. We put on an inovative bullish zebra 0DTE with the SPX which ended up getting us $500 total profit on $2,000 of capital. All three of our other 0DTE's including bitcoin yielded profits as well.

We don't have much on the economic news front today and its Friday. This is our designated day to:
#1. Book any available profits.
#2. De-risk the account.
#3. Get as much buying power back as we can to be ready for next Monday when we start the process all over again.
So, that being said, I'll make todays blog post short and cut right to the key points.
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Trade docket for today is pretty full but most of these should expire fully profitable on their own. We just need to monitor them: /ZN, AFRM, AKAM, CCL, CRM, DBX, DELL, FSLR, GLD, GRPN, SPX/NDX/Event contract NDX/Bitcoin 0DTE's, NVDA, ORCL, PLTR, PYPL, SHOP, U, YELP.

My lean today is neutral to slightly bullish. Not much to move the market one way or the other today.

Intra-day levels for our 0DTE setups:
/ES; 5299/5375/5417/5490 to the upside. 5235/5225/5188/5183 to the downside.
/NQ; 18323/18439/18609/18704 to the upside. 18184/18126/18076/18024 to the downside.
Bitcoin; 60645 support/66000 resistance.

Have a great trading day folks. Let's finish strong today and cap off another solid week of profits.