Narrow Range Implies Expansion Ahead for NQ
With a current six-day range of just 60 points, the NQ is likely to see expansion soon. The battle line to watch is 4179.75. 60-Point Range The E-Mini NASDAQ 100 …
Premium ES 11.05.14
The bears kept the previous month’s high offered in the 2016s, and are now defending 2010s, as well, which is the previous month’s close. Look for further downside price discovery into 1975 to 1980 ahead, unless bulls can reclaim prices above 2010.
Bears Defend 1248s in Gold
Bears defended the 1248 key level and successfully ran sell stops below 1215 en route to new multi-year lows. Watch 1184s for a retest.
Bears Defend the Previous Close for 40 Points
The previous session’s Close price went offered as soon as trading reopened after hours, which was the first clue that Bears would defend it upon a retest the next morning. Bears did indeed defend 4094, which sparked a sell-off into 4055 for a 40-handle move! Late bulls became trapped, which triggered sell stops into MCVPOC at 4058, and within 7 ticks of 4053.25, which the bulls defended for a 30-point rally.
70 Points in Two Moves in the NQ
Today’s Premium Playbook was a thing of beauty for E-Mini NASDAQ 100 traders! Not only did our playbook nail the first move of the day for 40 points, it also identified the reversal bottom within 7 ticks, which went for 30-plus points into the close! That’s 70 handles in two, precise moves off our key levels.