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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