Top Notch Trading 10/14/16

TOP NOTCH TRADING

“THE FUTURES DEFINED”

A DAILY TECHNICAL APPROACH TO STOCK INDEX FUTURES

FOR INFORMATION: E-MAIL- haefketim@gmail.com   10/14/16

 

 

SPZ                                      NDZ

   
2166.90 WEEKLY FIB 4909.00 WEEKLY FIB
2159.60 # 4892.50 # / 4875.25*
2156.50 -50 DAY M.A. 4863.25* / 4858.75*
2148.30* 4843.75* / 4837.50*
2143.50 STOPS? 4832.50 DAILY FIB
2140.50 DAILY FIB 4820.00 STOPS?
2135.80* 4811.00 YEST. HIGH
2131.50 > / YEST. HIGH 4808.75 -50 DAY M.A.
2129.10 – 100 DAY M.A. 4796.00 YEST. SETTLE
2127.80 PIVOTAL 4794.25 PIVOTAL
2126.20 YEST. SETTLE / 2126.00 v 4788.75 >
2121.90 DAILY PIVOT 4787.25 DAILY PIVOT
2115.40 < 4782.25 v
2112.30* 4776.00* / 4763.50*
2108.00 YEST. LOW 4755.75 < / 4754.50 YEST. LOW
2103.30 # 4746.75*
2099.00 DAILY FIB 4733.00 DAILY FIB / 4728.50 #
2094.50* / 2086.50* / 2078.30* 4713.50* / 4698.25* / 4660.00 -100 DAY M.A.

 

THESE MARKETS JUST KEEP GETTING TOUGHER EVERYDAY. THAT REMINDS ME OF A LINE FROM A SONG BY STEVE MILLER…KEEP ON ROCK’N ME BABY. THAT ABOUT SUMS IT UP WITH THESE MOVES OF LATE. JUST WHEN IT LOOKED LIKE THESE TWO WERE READY TO SEEK LOWER GROUND, THEY FOUND THAT RESILIENCY FACTOR, KEEPING A LID ON FURTHER EROSION. FOR TODAY- LAST NIGHT BOTH FOUND PROBES TO THEIR DAILY PIVOT PRICES, 2121.90 S&P, CURRENT LOW 2122.25 / NASDAQ 4787.25, CURRENT LOW 4786.25, WHICH DID GET TESTED IN THE NASDAQ, WHILE THE S&P FELL JUST SHORT. IT FOLLOWED WITH MOVES ABOVE THEIR SETTLE AND PIVOTAL PRICES FINDING CURRENT HIGHS AT 2138.75 S&P / 4822.25 NASDAQ. THOSE SETTLE / PIVOTAL LEVELS OFFER MAIN FOCAL POINTS ON THE OPEN AS FAR AS FIRST SUPPORT GOES. UP TOP THE S&P LOOKS FOR A FIRST TEST AT ITS DAILY FIB LEVEL, 2140.50, BUT THE SKINNY OF IT ALL COMES WITH THAT 2143.50 PRICE, AN OBJECTIVE NEEDING A BID IN ORDER TO HAVE ANY CHANCE AT FINDING HIGHER GROUND. THE NASDAQ HAS A STOP PRICE AT 4820.00, WHICH OFFERS A FIRST LOOK OF RESISTANCE, BUT IF IT OPENS ABOVE THAT LEVEL, IT CHARTS A COURSE OFR OTHER LEVELS OF INTEREST AT ITS DAILY FIB 4832.50, ALONG WITH OTHER RESISTANCE PRICES AT 4837.50 AND A TESTY PRICE OF 4843.75. IT BOILS DOWN TO SEE WHAT THE MARKETS OFFER ON A DAY TO DAY BASIS, BECAUSE I SUSPECT NO ONE REALLY KNOWS HOW THINGS WILL PAN OUT, ESPECIALLY WITH THE PENDING ELECTION AND OTHER WORLD NEWS AT HAND. GIVE ME A HOME WHERE THE BUFFALO ROAMS….HOME, HOME, STUCK IN A RANGE. CONSUMER SENTIMENT ALONG WITH BUSINESS INVENTORIES DUE OUT AT 9:00 A.M. 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.

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