Support: 17850, 17639
Resistance: 18000, 18065
Game Plan: Despite all negativity, Dow has been able to hold Sept lows, and overnight challenging Oct 13 swing low. A break above points to 18000 as next level. Continue to watch Dow for cues of broader market sentiment – if break below Sept lows, watch out for a waterfall drop.
Support: 2083, 2067
Resistance: 2102, 2110, 2122
Game Plan: Strong rebound overnight but strong resistance at previous broken horizontal support at 2102. Sell the rally mode still on.
Support: 4700, 4623
Resistance: 4760, 4780
Game Plan: Hit strong support 4700 and rebounded overnight. Trading range between 4700 and 4760 to likely continue in the short-term.
Support: 45, 44.7
Resistance: 46.7, 47
Game Plan: Relief rally underway inside a steep down channel. Remain bearish bias until channel breaks. Short at 46.7 area or long at 44.6
Support: 1284, 1265
Resistance: 1306, 1320
Game Plan: Sharp drop after retesting key shoulder line. Risk of forming a very large H&S. Near support at ST up channel breakout area, but the daily close will be important.
10-Yr Treasury Note
Support: 129.81, 129.27
Game Plan: Runs out of steam on improved risk appetite. Should backtest the broken descending wedge near 129.81.
US Dollar Index
Support: 97, 96.5
Resistance: 97.52, 98
Game Plan: Found support at early Oct swing high near 97. Still in sell the rally mode towards 98 to form potential H&S pattern.
Support: 17000, 16700
Resistance: 17160, 17270
Game Plan: Bouncing back above 17000 with potential morning star reversal which should provide a good near-term bottom. Look for backtest of broken up trend near 17300 for short entry.
Resistance: 103.25, 104.5
Game Plan: Bleeding has stopped and a break back above 103.25 would point to squeeze further to 104.5 area to form right shoulder.
Support: 1.1023, 1.0973
Resistance: 1.1112, 1.1127
Game Plan: Finally stalled at cluster of trendline resistance above 1.11. Likely pullback further towards towards low 1.10 area before the next leg up
Support: 1.2450, 1.2302
Game Plan: Wow can you spell S-Q-U-E-E-Z-E? Confirmed break above descending trendline would have thin air until pre-flash crash swing point at 1.2711. Wait for 4-hr candle to confirm though. All dips now should be bought to 1.2302 (if any)
Support: 0.7600, 0.7567
Resistance: 0.77, 0.7720
Game Plan: Directionless trading in past month but may finally break ST wedge. Horizontal resistance looms above 0.77.
Game Plan: Still can’t break loose after taking out swing highs from earlier October, bounded by upper channel line and in a tight range. Buy on break above 1.345 or at 1.3300