Turkey Weekend- Wed Nov24 - Durable Goods Day - Review

Thursday Nov25 Update :

Long from 1188.25 . First Target reached at 1200.25 for  + 12pts Profits
second target never reached its destination. Out Flat at 1195.25 for another
+7Pts
Total GAIN : + 19 PTS Profits. Not bad for a Holiday Trade.
Targets emailed to subscribers upon request. Some of them did not trade during the Holiday


Big Picture Analysis:  The bears’ window of opportunity was shrinking today, as seasonality favored the bulls again this Wed afternoon, and especially so on Friday. 

Despite the barrage of negative headlines, last week’s lows in the ES held, and traders have bid up equity futures on a favorable Jobless Claims report this morning (despite a below consensus Durable Goods report).  That report was ignored due to the GDP revisions, as expected.

A close above 1188.00 today allows continuation that builds momentum into next week.  A close below 1177.25  would have left the window open for the bears.  With international headlines in the forefront, it’s also important to recall last year’s Dubai 30 point shakeout.  Only a close below 1157.00 would have casted serious doubt about the bulls regaining the upper hand. Bulls won this one again.

New Swing Position Initiated Intraday:  Long 1188.25

Trade SETUP :
TTT Buy Day
RSI ( 2 ) Buy Day # 3 at the Close, but intraday Long Entry
with much better fill and less risk. 80% positive and proven expectancy
of trade success. See previous posted trades.
VIX Count : Friday  Nov 13 , Number 13 Down ( bullish )
Equities reaction to Dollar Index

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