Finally, the structure and clarity on the monetary policy is giving daily time frames the kind of structure needed for follow-through. While it may be setups that get us in a trade, it’s the follow-through that allows us to get paid.
The NQ is probing August levels, while the /YM and /ES still defy gravity. A decisive break in the NQ could get the others to finally break support.
In this video I walk through the AMD Daily and Weekly chart and discuss levels as well as several different trade ideas to consider to play for a potential move lower.
In this video I walk through META Daily and intraday charts and discuss why I like the possibility that this could move down to test 100, if not lower. On top of going over the charts, I also talk about a few different options trades to consider and levels to be mindful of.
It looks to me like this week starts where November ends and that is Wednesday. The reason is that is where this week’s news cycle really picks up with Fed Chair Powell on Wednesday, PCE on Thursday, and then the monthly NFP Jobs report Friday morning.
Crude started the day down over 2.6% only to finish positive. The volatility in this sector is off the charts. Nat Gas had a similar showing finishing well off of its session lows. I’ll try to put together a plan for this and more in tonight’s market update.
AAPL gapped down significantly today. If it doesn’t recover soon, then it could drag down the major indices.
With the NQ testing support first, the ES finally listened and tested the 3965 support. The key now is how short term oversold conditions are worked off.
