Daytrading Technical Analysis · Trading Game Plan

2016/10/31 – Intraday Charts & Game-Plan

Futures

 

Dow 30

Support: 18038, 18000

Resistance: 18160, 18230

Game Plan: Tight range between horizontal support and down trendline. Continue watching the down trendline like a hawk. A breakout would trigger further squeeze and drag other indices up.

20161031-YM.png

S&P 500

Support: 2120, 2114

Resistance: 2132, 2142

Game Plan:  Neckline 2120 must hold on a 4-hr chart otherwise a confirmation of H&S breakdown. Lots of resistance starting from 2132 ST downtrend and 2142 descending trendline. Longs should avoid this and instead look at Dow for more cues on upside if it can breakout

20161031-ES.png

NDX 100

Support: 4785, 4760

Resistance: 4842, 4880

Game Plan: Descending wedge between 4785 and 4820, trade the range until one side breaks.

20161031-NQ.png

Crude Oil

Support: 48, 46.7

Resistance: 48.9, 49.26

Game Plan: After confirmed false break by closing under 49, pressure will remain on the downside. Hit bottom of down channel on gap down Sunday evening and sell into solid resistance from 49 to 49.26.

 

20161031-CL.png

Gold

Support: 1266, 1256

Resistance: 1282, 1303

Game Plan: Remains bounded by top of the up channel. Keep trading the range inside the channel until it breaks out.

20161031-GC.png

10-Yr Treasury Note

Support: 129.28

Resistance: 129.64, 129.97

Game Plan: Oversold bounce off bottom of descending wedge after plunging through Oct swing low. Look to short bounces to 130

20161031-TY.png

 

US Dollar Index

Support: 98.14, 97.51

Resistance:  99, 99.28

Game Plan: Plunged after backtesting broken uptrend. As weekly & daily charts confirmed sell signal, sell bounces to 99 and 99.28

20161031-DX.png

Nikkei 225

Support: 17300, 17160

Resistance: 17450, 17535

Game Plan: Broke ascending wedge on Friday and now backtesting. Downside has been tiny. Stay neutral until it closes back above.

20161031-NK.png

 

 

 

Currency Pairs

USD/JPY

Support: 104.6, 103.9

Resistance: 105.49, 105.98

Game Plan: Defended confluence of trendline supports on Sunday gap down, and now looks headed back to top of ascending channel. Technically bullish unless it drops under 104.6

20161031-USDJPY.png

EUR/USD

Support: 1.0954, 1.0919

Resistance: 1.10, 1.1022

Game Plan: Technicals turning bullish after breaking back above the key swing point 1.095. Should be headed to above 1.10. Buy dips towards 1.092.

20161031-EURUSD.png

GBP/USD

Support: 1.2141, 1.2100

Resistance: 1.2247, 1.2279

Game Plan: Continue grinding sideways in a horizontal range, but very strong post-flash crash downtrend looms that will put a lid to the upside. Trade the ranges and short on test of downtrend.

20161031-GBPUSD.png

AUD/USD

Support: 0.7558, 0.7518

Resistance: 0.7635, 0.7684

Game Plan: Directionless trading in past month, and upside breaks have been fake outs. Trade the wide descending wedge both sides.

 

20161031-AUDUSD.png

USD/CAD

Support: 1.3315, 1.3308

Resistance: 1.34, 1.3465

Game Plan: Still trying to break loose after taking out swing highs from earlier October, now trying to get decisively above March swing high. A weakening oil could be nail in the coffin for USD/CAD. Wait for daily close above 1.3415 to go long or buy dip at 1.33.

20161031-USDCAD.png

 

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