Day Note for Nov 05, 2018
5th November
Bonfire night in the UK. Fireworks in the US. For my take on the way to work your way around the election - take a look:https://www.jigsawtrading.com/2018/11/05/mid-term-election-week-what-traders-need-to-know/
We fell back on Friday - another big range day but not the shake out I was thinking we'd get. I think now the election will make the markets "non-technical"
A big weekly range, I'm going to ignore the weeklies again this week - it's just too much of a range and was too volatile to consider it will yield any useful reference prices.
A fairly tame overnight session considering Friday.
Eye's on 10am for PMI.
Plan
- first thing is to see how the volatility is - Friday was huge but overnight very slow
- aggressive on joining moves down, especially on a break of Friday low/Overnight low
- basically looking to jump on volatility if we have it. If we don't, I'm honestly not sure which levels we'd play off
Daily Numbers
Range - 2699.25 -> 2756.50
Value - 2706.25 -> 2727.75
Globex - 2712.75 -> 2723
Settlement - 2724.25
Long Term Levels - 2797.50, 2868.75, 2892.75, 2922.50, 2697
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5th November
Bonfire night in the UK. Fireworks in the US. For my take on the way to work your way around the election - take a look:https://www.jigsawtrading.com/2018/11/05/mid-term-election-week-what-traders-need-to-know/
We fell back on Friday - another big range day but not the shake out I was thinking we'd get. I think now the election will make the markets "non-technical"
A big weekly range, I'm going to ignore the weeklies again this week - it's just too much of a range and was too volatile to consider it will yield any useful reference prices.
A fairly tame overnight session considering Friday.
Eye's on 10am for PMI.
Plan
- first thing is to see how the volatility is - Friday was huge but overnight very slow
- aggressive on joining moves down, especially on a break of Friday low/Overnight low
- basically looking to jump on volatility if we have it. If we don't, I'm honestly not sure which levels we'd play off
Daily Numbers
Range - 2699.25 -> 2756.50
Value - 2706.25 -> 2727.75
Globex - 2712.75 -> 2723
Settlement - 2724.25
Long Term Levels - 2797.50, 2868.75, 2892.75, 2922.50, 2697