Plus, Don Yocham gives us one sector to short immediately…
- All signs point to an Overbought Dow…
- Is Tech still the big red flag in the stock market?
- THIS sector remains in the lead — plus, why I'm cautious with energies!
- Plus: Get my Top sector + Top stock! (plus weakest stocks to avoid!)
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My pivot number today on the ES (S&P 500 futures) is 3911. Resistance is up at 3975 and support at 3870. There are two conditions I am looking for today. - I want to see the ES above 3911 when Europe closes
- The ES needs to make a new high prior to that European close
If these two conditions are met then I think my forecast of higher prices this week is going to be right on point and prices will take off. Watch today's TBUZ TV episode here. Click to get today's Pre-Market Planner Numbers here. ~ TBUZ | |
The market is seasonally very strong in November. The midterm election cycle is also very strong this month. That type of trajectory might be hard to believe with a potential bear-trap trend very much at hand and a hawkish Fed set to announce tomorrow. Watch the tape, understand the strong and weak sectors, and trade nimbly with rules. One set of rules includes closely heading support and resistance. Here's how I'm seeing it broadly for the month, based on ATR. | |
This week we have elections in the news… a huge Fed interest rate announcement coming Wednesday. (hint: no, they won't pivot) Lots of noise, but only one thing matters. When you think about higher rates and you think about homebuilders… You know they are going to be hurting. "You don't buy a house, you buy a mortgage." – And mortgages are getting a whole lot more expensive! To play that to our advantage, we're going to short homebuilders. | |
Kind words from our best students: "I paid for the indicators following your pick of the day trades and as DA has cautioned, it looks like I'm becoming a customer. Looking forward to getting familiar with the strategy." — John K., a premium subscriber to Don Yocham's Opportunity Zone Scanner and The Daily Pick | |
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