The Week Ahead 11/9
Should be another exciting week!
Happy Sunday! Hope you all are having a lovely Sunday night and enjoying the weekend.
What an exciting Friday that was, our old core pivot on NQ did it’s job again at 730.50 and we’re now trading 600+ points higher! However, it’s not the time to get complacent as the market now gapped into some very key areas that bulls will have to take out quickly to gain control. Let’s dive in:
ES:
Market traded into our old 6670 level from a few weeks back and once the swing buy signals triggered, that’s all she wrote! Now we note market gapping into a very critical area:
21ema on the daily right at 6796, no coincidence this is also near very key 6800 level as well, I expect to see heavy sellers show up here and bulls will need to press to get a cover squeeze higher.
Note the 6785 level as well at the huge volume node on the profile
Plan for me:
Above 6785 can test into 6800. Any pushes above 6800 will trigger a large squeeze higher into 6855-6860 area so be cautious if trying to short there / keep stops tight
Below 6785 opens tests down to 6759-6746, if bulls lose either of those levels, we risk a revisit of the friday lows so be extremely cautious below there.
NQ:
Pretty straightforward levels here on the chart and no real changes.
Hold above 25355 and we can push into 25580
Reject this zone again and we open revisit of 25179 and 24957 below.
I expect sellers to put up an effort here
GC:
21ema at 4019 here, once we close above on the daily I expect for the move to begin higher. Thing is getting real coiled imo and its ripe for another 4060 test
No changes, hold the longs!
EQT:
Flagged EQT leaps as a play last week, we got the breakout and this thing looks primed to rip higher, I think this will be a big longer term swing winner
For swing trade ideas, I’ll probably do a write up later this week as the dust settles from this gap higher + NVDA earnings. Don’t really want to enter anything until then.
As always, will keep updated on twitter + chat on SubStack and let’s have another great week!
Cheers,
-gtd
Thank you. Last week was great!