Daily Profit Compass November 27

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.

President Trump partially squelched  yesterdays gains by openly advancing the possibility of new tariffs on an additional $267B in Chinese goods  including Apple’s iphone.  $AAPL is trading off about $3 in the premarket. FOMC Vice Chair Clarida also speaks this morning so plenty of headlines out there for markets to contemplate.
On the technical front, IWM has been outperforming recently. Price has taken out the 8ema whereas in SPY / QQQ price remains below.  Also realize that there are open gaps remain below on IWM / QQQ / and SPY that remain to be filled. The gap locations are detailed in the Profit Compass.
In the Profit Compass, I give the key levels with both long and short entry locations for trades.  Although my intermediate base case is for lower prices, a breakout above these key resistance zones could spark a multi day rally.
I also take a look at risk appetite and TLT.

Because of the number of charts and for your own convenience, a copy of the Daily Profit Compass can be downloaded from DropBox with this link.

Download the the Daily Profit Compass HERE

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