11/20 Trading Plan - Last Week Recap and Day Ahead
🔄 Recap
Last week's newsletter accurately predicted the market's behavior with the CPI acting as a catalyst for a significant breakout from the core downtrend channel. This led to a substantial uptrend, marking one of the year's pivotal trades.
📈 The Markets Overnight
🌏 Asia: Up
🌍 Europe: Mixed near unchanged
🌎 US Index Futures: Up slightly
🛢 Crude Oil: Up strongly
💵 Dollar: Down a bit
🧐 Yields: Up a bit
🔮 Crypto: Down slightly
🌏 Major Global Catalysts
A significant event in the global market is the victory of the Libertarian candidate in the resource-rich presidential election of Argentina. This could have far-reaching impacts on global trade and market dynamics.
🔍 Key Structures
Upper Resistance: 4623, connecting the January 2022 COVID bull market high with the August 2022 high.
Notable Resistance Zones: 4580, 4556, 4535-43.
Significant Supports: 4485-88, 4445, 4405.
📉 Support Levels
Major: 3502, 3788, 3839
📈 Resistance Levels
Major: 4051, 4180, 4209.
📝 Trading Plan
Short-Term Focus: Monitor 4514-07 as critical support. A break below could signal a short-term bearish trend.
Long-Term Strategy: Maintain focus on the uptrend as long as the market stays above 4405, the core downtrend channel from August.
🔚 Wrap Up
The market is showing signs of consolidation after a significant uptrend. Key levels to watch are 4514-07 for potential downward movements and 4535 for resistance. The market remains in a strong uptrend, and any pullbacks should be considered within this context.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
Last week's newsletter accurately predicted the market's behavior with the CPI acting as a catalyst for a significant breakout from the core downtrend channel. This led to a substantial uptrend, marking one of the year's pivotal trades.
📈 The Markets Overnight
🌏 Asia: Up
🌍 Europe: Mixed near unchanged
🌎 US Index Futures: Up slightly
🛢 Crude Oil: Up strongly
💵 Dollar: Down a bit
🧐 Yields: Up a bit
🔮 Crypto: Down slightly
🌏 Major Global Catalysts
A significant event in the global market is the victory of the Libertarian candidate in the resource-rich presidential election of Argentina. This could have far-reaching impacts on global trade and market dynamics.
🔍 Key Structures
Upper Resistance: 4623, connecting the January 2022 COVID bull market high with the August 2022 high.
Notable Resistance Zones: 4580, 4556, 4535-43.
Significant Supports: 4485-88, 4445, 4405.
📉 Support Levels
Major: 3502, 3788, 3839
📈 Resistance Levels
Major: 4051, 4180, 4209.
📝 Trading Plan
Short-Term Focus: Monitor 4514-07 as critical support. A break below could signal a short-term bearish trend.
Long-Term Strategy: Maintain focus on the uptrend as long as the market stays above 4405, the core downtrend channel from August.
🔚 Wrap Up
The market is showing signs of consolidation after a significant uptrend. Key levels to watch are 4514-07 for potential downward movements and 4535 for resistance. The market remains in a strong uptrend, and any pullbacks should be considered within this context.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
