Monday, November 28, 2005
Issue Contents:
| 09:56 | Market Direction and daily plan |
| 10:29 | Client Notice The Plan |
Futures – trading ideas and key levels
YM Futures – 5M
A small consolidation has formed a narrow range around Thanksgiving, and price is now near the apex of a triangle within that range. I’ve marked typical paths for price here – bearing in mind that the dominant trend remains up, we should lean to that side and stalk retracements above any upside triangle breakout as indicated.
Aggressive traders comfortable with taking the counter-trend direction ought to also stalk failure here; myself I would not sell the first bounce below the triangle but the second – one with potential to break the swing low and head to T1 near 10920.
Key Levels: Today its all about the narrow range roughly marked out between 10970 and 10940.
- Above 10940 we again want to be identifing retracements in the uptrend to buy
- If price begins trading below 10940, it sets up a change of trend in smaller (45M and under) time frames but only if price starts to make lower swing lows and lower swing highs. Look to 1, 2 and 5M charts for such outcomes and if a small-timeframe downtrend kicks in, it’ll be time to consider being a little more aggressive on the short side – for the first time in weeks. Don’t overstay your welcome.
Big Picture
Major market indexes – weekly
I’ve marked out on the cash indexes the likely first and second targets for a pull-back. In the early going of any weakness this week, we should assume that a pull-back will be short lived.
This week a number of things will be accomplished:
- Tomorrow morning (Tuesday) the go-forward plan for Trendvue will be published. Essentially this will detail the range of services which will be delivered; the schedule by which the services will be delivered, and the fee structure for the services. A synopsis of Trendvue’s short, medium and long term goals will also be provided.
- On Thursday Trendvue’s billing and administrative interface will change, allowing clients to stop and start subscriptions at will on-line.
- On Thursday there will be a facility to request rebates or refunds, as we recognize the last several weeks Trendvue has not been publishing to its usual standard.
- Next week Trendvue will publish again on a regular schedule, following the new service plan.
- Next week, for the first time in many months, the ability to add new subscriptions for services will be enabled.