Top Notch Trading 11/20/15

TOP NOTCH TRADING

“THE FUTURES DEFINED”

A DAILY TECHNICAL APPROACH TO STOCK INDEX FUTURES

FOR INFORMATION:  E-MAIL- haefketim@gmail.com   11/20/15

 

 

SPZ                                      NDZ

   
2112.40 WEEKLY FIB 4763.75 WEEKLY FIB
2111.60 MAJOR T-LINE 4657.25*
2110.00 TWO WEEK HIGH 4746.00*
2106.50* 4738.00*
2101.20* 4729.50*
2094.90 # 4715.25*
2089.20 STOPS? 4707.50 #
2086.70 DAILY FIB 4695.50* / 4689.50 LAST WK HIGH
2083.50 YEST. HIGH 4688.50 DAILY FIB
2082.20 PIVOTAL 4677.00 YEST. HIGH
2079.30 DAILY PIVOT 4669.00 PIVOTAL
2079.20 YEST. SETTLE / 2079.00 v 4664.25 > / 4662.75 v
2077.00 < 4661.25 DAILY PIVOT
2075.20 YEST. LOW 4660.00 YEST. SETTLE
2072.00 DAILY FIB 4653.75 < / 4646.75 YEST. LOW
2069.00 # 4640.25* / 4635.25 DAILY FIB
2065.70* 4629.50 #
2061.60* / 2054.60* / 2042.60* 4619.25* / 4603.25* / 4586.25*

 

THESE TWO DID FIND A DAY OF CONSOLIDATED EFFORT AS THE RANGES WERE ON THE SMALLER SIDE. WITH THE DAILY PIVOTS RIGHT OFF THE SETTLE PRICES FOR BOTH, IT SIGNALS A SETTLE RIGHT IN THE MIDDLE OF THE DAILY TRADING RANGES FOR BOTH. THE QUESTION I ASK IF TODAY BRINGS A REPEAT OF YESTERDAY. WITH WORLD EVENTS AT HAND, I WONDER IF SOME POSITIONS WILL BE TAKEN OFF THE BOOKS RIGHT BEFORE THE WEEKEND. I SUSPECT THEY WILL SHOW A HAND FAIRLY EARLY ON. FOR TODAY- THE S&P AT THIS TIME FOUND A CURRENT HIGH OF 2087.00 A TEST MORE OR LESS OF YESTERDAYS PIVOTAL PRICE OF 2087.10. I FIND THAT VERY INTERESTING AND IF THERE IS AN OPEN ABOVE THAT PRICE, I CAN’T SEE WHY AN EXTENDED MOVE TAKES ON ITS TWO DAY UPSIDE # PRICE OF 2094.90. NOTE THAT THE OVERALL PICTURE EYES A MAJOR TREND LINE AT 2111.60 MOVING FORWARD. DOWNSIDE LOOKS FOR A FIRST TEST OF TODAYS PIVOTAL PRICE AT 2082.20. HOWEVER, LOOK AT THE WALL OF PRICES AT THE DAILY PIVOT, 2079.30, SETTLE PRICE, 2079.20, A VOLUME VALUE PRICE, 2079.00. IF THAT AREA GETS BREACHED IN ANY EASY FASHION, IT SUGGESTS A CONTINUED EFFORT SOUTH TAKING ON TODAYS DAILY FIB OF 2072.20 AND # PRICE 2069.00. THE NASDAQ LOOKS FOR A FIRST TEST UP TOP AT ITS DAILY FIB OF 4688.50, RESISTANCE PRICE4695.25, AND MUCH LIKE THE S&P, HAS A TWO DAY UPSIDE # PRICE OF 4707.50. THE PIVOTAL PRICE AT 4669.00 WILL BE A FIRST TELL AND IF OFFERED, IT SHOULD LOOK FOR TODAYS DAILY PIVOT PRICE OF 4661.25, WITH OTHER LEVELS OF INTEREST DOWNSTAIRS AT 4640.25, DAILY FIB 4635.25, AND # PRICE 4629.50. THE OVERALL PICTURE STILL SIDES WITH A BIAS TO THE BULL END. GOOD TRADING!!

 

THE INFORMATION PROVIDED IS BASED ON SOURCES I BELIEVE TO BE RELIABLE. I DO NOT REPRESENT THAT IT IS COMPLETE OR ACCURATE. THE OPINIONS CONTAINED HERE ARE NOT TO BE CONSIDERED AS AN OFFER TO BUY OR SELL THE FINANCIAL INSTRUMENTS PRINTED HEREIN. ANY OPINIONS ARE BASED SOLELY BY THE AUTHOR.

© TOPNOTCH TRADING