Daily Profit Compass November 14

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Trade empowered and prepared using the Daily Profit Compass market outlook as your guide. Detailed trading plans, key levels and timely commentary on the indexes will keep you on the right side of the trade.

Yesterday turned out to be a consolidation day after Monday’s move with no new technical developments. What really stood out though was the mid -morning bull run across the indexes that saw price rally into recent broken support ( now resistance ) and being rejected. But just as important, price didn’t hover just below resistance but was slammed down to the bottom of the daily range. This could simply be a product of increased volatility but I think the institutions are using the rips to continue to unwind long positions.

Watch airlines. Do they continue rally w/ plummeting oil prices or do they roll over w/ growth fears? Might be an interesting tell.

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Chris Buss

I am a professional full-time trader that has been involved with markets for over 15 years. I use technical analysis to seek out and discover objective long and short swing-trading opportunities. I use options in my trading to leverage these opportunities while defining my risk. I look forward to helping you become the consistently-profitable trader you aim to be!

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