November 3rd, 2023

Bulls have the momentum, and I don’t see much to stop them right now (from a technical perspective). It appears as though ES is headed for a test of 4377-99 in the coming sessions, possibly even today. Yesterday’s close was very bullish, and as long as we sustain daily closes above the 4305-4297 area, I see 4377-99 in our very near future.

When I look at the NQ and RTY, they are also screaming ‘buy’ to me. NQ is the upside leader, and as long as they can hold above 14,880, I see a test of 15,313 in the coming sessions. RTY has finally woken up on this rally, and I actually see them outperforming the rest of the indexes into year-end. As long as RTY can sustain trade above 1717, I think we see 1774 in the coming sessions.

My plan for today is simple: wait to see how NFP comes out and wait to buy the dips in the indexes using my 3-minute opening range strategy with RTH AVWAP. I favor the RTY to the long side as I already started a swing long in RTY from 1725 with a 1714 stop. Target is 1774.

Momentum shifts on a dime in this market, and we have to be nimble in our positions and thoughts. Hidden biases can crush us in this market. Keep it light and tight. Cheers, DELI

Leave a Reply

Your email address will not be published. Required fields are marked *

Watch The Latest Livestreams with All Stars!

each week

Recent posts