Day Note for Nov 12, 2018
13th November
Note - this is a VERY early prep, so please understand the overnight numbers will need reviewing. 6 hours in immigration yesterday and looks like the same today! Hence the early prep.
Veterans day didn't keep many people away from the markets. As we discussed last week, the 2820 area held. I think this is more to do with there not being that much around - now we are down to 2711 area which is also a significant swing in this high volume erratic chop we've been in since October. So this may be significant & a move away in either direction should be decent. I would not however, trade the level itself.
Once again, looking left this market is far too volatile to get meaning from the weekly profiles in my opinion, so they are off the table at the moment.
From the daily levels - keep an eye on the 2752 area - we moved back up to it yesterday before dropping.
Plan
- watch the 2511 area (but be flexible, it is volatile remember) - we want it to rest around there and then move away. To see a pause (indecision) and then something decisive.
- Other than that, it's the volatility play. Careful getting in and then layer into a position.
Daily Numbers
Range - 2722.25 -> 2777.50 / 2795.25
Value - 2730.25 -> 2851.75
Globex - 2719.25 -> 2735.50
Settlement - 2727.25
Long Term Levels - 2797.50, 2868.75, 2892.75, 2922.50, 2697
Click on the microphone icon and begin speaking.
Speak now.
No speech was detected. You may need to adjust your microphone settings.
Click the "Allow" button above to enable your microphone.
Permission to use microphone was denied.
Permission to use microphone is blocked. To change, go to chrome://settings/contentExceptions#media-stream
Web Speech API is not supported by this browser. Upgrade to Chrome version 25 or later.
13th November
Note - this is a VERY early prep, so please understand the overnight numbers will need reviewing. 6 hours in immigration yesterday and looks like the same today! Hence the early prep.
Veterans day didn't keep many people away from the markets. As we discussed last week, the 2820 area held. I think this is more to do with there not being that much around - now we are down to 2711 area which is also a significant swing in this high volume erratic chop we've been in since October. So this may be significant & a move away in either direction should be decent. I would not however, trade the level itself.
Once again, looking left this market is far too volatile to get meaning from the weekly profiles in my opinion, so they are off the table at the moment.
From the daily levels - keep an eye on the 2752 area - we moved back up to it yesterday before dropping.
Plan
- watch the 2511 area (but be flexible, it is volatile remember) - we want it to rest around there and then move away. To see a pause (indecision) and then something decisive.
- Other than that, it's the volatility play. Careful getting in and then layer into a position.
Daily Numbers
Range - 2722.25 -> 2777.50 / 2795.25
Value - 2730.25 -> 2851.75
Globex - 2719.25 -> 2735.50
Settlement - 2727.25
Long Term Levels - 2797.50, 2868.75, 2892.75, 2922.50, 2697