Directional Bias For The Day:
- The futures are down
- Trending down since 3:00 AM high of 2180.50
- Emerging symmetrical triangle on 30-minute chart
- Odds are for a down day
Markets Around The World
- Markets in the East were mixed – Shanghai, Tokyo and Sydney were up; Hong Kong, Mumbai and Seoul were down
- European markets are mixed – Germany and Italy are up; France, Spain, Switzerland; UK are down
- Dollar index is down; EUR/USD, USD/JPY and GBP/USD are down
- Commodities are mostly down – only copper is up
Key Levels:
- Critical support levels for S&P 500 are 2161.09, 2151.17, and 2144.66
- Critical resistance levels for S&P 500 are 2178.26, 2181.30, and 2193.42
- Key levels for eMini futures: break above 2170.00, the 3:00 AM high, and break below 2151.25, the low of 5:30 AM
Pre-Open
- Pre-NYSE session open, futures price action is to the down side; at 8:30 AM, S&P 500 futures were down by -9.00, Dow by -42.00 and NASDAQ by -37.00
- On Thursday, at 4:00 PM, S&P future (Dec contract) closed at 2164.25 and the index closed at 2167.48 – a spread of about 3.25 points; futures closed at 2167.25 for the day
The trend and patterns on various time frames for S&P 500 are:
Monthly |
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Weekly: |
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Daily |
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2-Hour (e-mini future) |
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30-Minute (e-mini future) |
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Previous Session
U.S. markets were mostly up on Thursday. NASDAQ Composite was the only one to decline.
S&P 500 made a doji. Dow Jones Industrial Average had another 1+ percent up day. On November 8, it had broken to the upside of a descending triangle, the first target is near 18950. Critical level for NASDAQ are 5302 and 5145.
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