Day Note for Nov 28, 2018
28th November
Back off vacation with my 23 year old nephew. I needed a break!
Volume is way down the past few days but it's still quite illiquid. Oddly, on Monday - we ed off trading 5-600 per level for about 20 mins and then the liquidity all dropped and we were back to less than 100 to eat through each price.
So a move down, less volume in this retrace up but overall we seem to be in a range 2600-2820. It could be the drop in volume is lack of interest in the range OR it could be a low volume pullback which means a push down would see increased participation/continuation.
Last week, we can see a huge drop from 2730 to 2700. So 2700 is worth keeping an eye on today. If it breaks upside, we could be at 2730 very quickly.
The market does appear to be back to a somewhat technical state, holding prior days high/low, value high/low. So I think that 'game' is coming back which would also indicate a return to normality.
Of course, it's an indication and not a guarantee - so let's see how it plays out.
Eyes on Home Sales @ 10am
Plan
- eyes on 2700 for a hold/break (a line in the sand)
- eyes on any move down that gathers steam and sees a lot of volume indicating a willing to break the downside
- other than that - the open trade is on today and watching the day trader levels for a reaction
Weekly Numbers
Range - 2631.50 -> 2692.50
Value - 2656.50 -> 2676.50
Daily Numbers
Range - 2655.25 -> 2684 / 2684.25
Value - 2666.50 -> 2679
Globex - 2681 -> 2692.50
Settlement- 2683.50
Today only- 2700
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.
28th November
Back off vacation with my 23 year old nephew. I needed a break!
Volume is way down the past few days but it's still quite illiquid. Oddly, on Monday - we ed off trading 5-600 per level for about 20 mins and then the liquidity all dropped and we were back to less than 100 to eat through each price.
So a move down, less volume in this retrace up but overall we seem to be in a range 2600-2820. It could be the drop in volume is lack of interest in the range OR it could be a low volume pullback which means a push down would see increased participation/continuation.
Last week, we can see a huge drop from 2730 to 2700. So 2700 is worth keeping an eye on today. If it breaks upside, we could be at 2730 very quickly.
The market does appear to be back to a somewhat technical state, holding prior days high/low, value high/low. So I think that 'game' is coming back which would also indicate a return to normality.
Of course, it's an indication and not a guarantee - so let's see how it plays out.
Eyes on Home Sales @ 10am
Plan
- eyes on 2700 for a hold/break (a line in the sand)
- eyes on any move down that gathers steam and sees a lot of volume indicating a willing to break the downside
- other than that - the open trade is on today and watching the day trader levels for a reaction
Weekly Numbers
Range - 2631.50 -> 2692.50
Value - 2656.50 -> 2676.50
Daily Numbers
Range - 2655.25 -> 2684 / 2684.25
Value - 2666.50 -> 2679
Globex - 2681 -> 2692.50
Settlement- 2683.50
Today only- 2700
Long Term Levels - 2797.50, 2868.75, 2892.75, 2922.50, 2697