ES

ES, Nov. 17, 2017. 10-minute bars.

The S&P500 mini-futures (ES) peaked in the overnight session but did not approach Nat’s inflection points. Overnight traders had no entry levels.

During the day session the ES stayed within a narrow range for most of the day and offered few trading opportunities.

The price did spike down to Nat’s keyline at one point, and some of the dayside scalpers may have been able to get an entry that returned about 4 points ($200). But the market tanked into the close, and anyone who left that trade open was stopped out.

The intra-day calls were no more profitable; the market did not reach entry levels. Mainly a wash for the day.

Oil

Oil futures, Nov. 17, 2017. 10-minute bars.

Oil rallied strongly in the overnight market Friday and broke through both Nat’s first and second sell levels. Overnight traders using those levels as entry points were stopped out.

The intra-day traders had no better luck. The price did not approach Nat’s revised long entry, so day-session traders had no logical entry point. It was a good day to stay home.

Oil will roll over (i.e. traders will begin to concentrate on the next nearest contract) to the January contract next week. Trading will be scrambly as the 20-cent difference between the December and January contracts is accommodated.

Gold

The overnight gold market did not reach Nat’s keyline, and overnight traders did not have an entry level, unless they were willing to stretch a couple of points.

During the day session relative weakness in the USD sent the price roaring through both Nat’s first and second sell levels. Traders who tried to use those levels as short entries were stopped out.

Nat attempted to provide a long-side entry for intra-day subscribers …

Nat<naturus@gmail.com> 8:59:32 AM
GOLD 1274-75 is a long-term support area, as long as price stays above it, buy it with stop 1272.50
Nat<naturus@gmail.com> 9:00:55 AM
but don’t expect too much from it. 1288-93 is resistance zone, scalping short it with stop at 1294.50

… but some traders waited for a retracement to $1275 that never came. Those who did take the trade immediately caught most of the uptrend. The subsequent short from the top of the resistance zone was stopped out.