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Resistance Breaks But Buyers Fail to Hold Against the Strength – Nov 30, 2018

Today is the last trading day of November, 2018.  

Monthly closes often make a difference to traders with P&L to report so we may see some whipsaw in the futures.  Our live webinars begin each morning at 9:15am Eastern, so join us

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MARKET TEMPERAMENT –

The backdrop of higher lows holds for yet another day, but a breach of resistance could not hold against selling pressure above.  This is a warning that upside pressure could collapse.  Formations are weakly bullish as we struggle in the middle of congestion.  Key level of support in ES_F to hold is 2722.5- we’ve been holding bounces above that region but are presented with lower highs this morning.  The suspected fade to support is in progress.  With mixed formations, trading level to level is best.  We will remain engaged in a large relief bounce within a much larger bearish motion.  We can still trade both sides of this, but with caution- understanding that we still see buyers holding the bounces for now…. that means don’t short those lows at the first pass

How about finally starting that trading journal?

You should – Here’s an easy way to keep track of your progress

PROTECTED DATA SITS BELOW –

IF YOU CAN SEE THIS LINE, YOU ARE LOGGED IN 

TUESDAY’S END OF DAY PERFORMANCE RECAP PER CONTRACT-

Here’s the proper way to trade the spreadsheet

 

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