Trading plan for Oct. 11, 2016


ESZ6 to Oct. 10, 2016. Daily chart.

After the second presidential debate, the market moved back up again. ES gapped up at open and held above the gap for a higher closing.

But it still has trouble to close above the 2165 level. The volume was very low, with US banks closed for Columbus holiday and Canadian Thanksgiving holiday.

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This section contains the detsiled buy/sell levels for Tuesday. It is reserved for Dily and Full Access members. Previous trading plans are available free of charge in the archives.

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Today’s move should depend on the 2156-58.50 zone. As long as the price stays above it, odds should favor the upside. A break above 2168.50 could push ES up to 2172-73.50 or higher up to 2183.50-85.50.

A failure to break through it could mean ES stays its triangle pattern again, which will be a very narrow range.

Daily PMO indicator has a nasty whipsaw short-term buying signal. It could help ES to hold up or move up to 2173-72 zone.


Short-term === Neutral
MEDIUM TERM === Neutral
LONG-TERM === Bullish

Support and resistance

Major support levels: 2135-33. 2123-21.50, 2112-13.50, 2103.50-01.75
Major resistance levels: 2171-72.50, 2181.50-78.50 , 2188-90.50, 2200-01.50


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