Market Sentiment Turns Cautious
Support & Resistance Levels Amid Rising Uncertainty - November 3rd - 7th
In trading, Support and Resistance (S/R) levels are crucial for execution, and they’re most powerful when used as the final step in a top-down equation.
My method starts with technical analysis to assess the broad price action and identify a setup. Next, I check the fundamental context to understand why the price is moving and to validate the long-term thesis.
Only after identifying a probable direction do the S/R levels come into play. They are the key to timing entries, managing risk, and validating the setup.
» » To read my approach, open for everyone click here: Top-Down Trading Method
A perfect example was the NFLX analysis posted last Wednesday. We highlighted the short-term bearish move (the “what”), but the strong fundamentals indicated this was likely a buying opportunity (the “why”). The S/R levels then provided the precise map for navigating that dip.
» » The latest case studies are here: Giants in Transformation: NFLX, TSLA, INTC
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Today’s Content:
Stock Market Commentary
Weekly Support and Resistance Levels
Monthly Support and Resistance Levels (Updated for November)
The S/R levels are updated every week for the following securities to provide a broad market perspective and empower your trading decisions:
Indices & Futures: SPX, NDX, DJI, IWM, ES=F, NQ=F
ETFs: SPY, QQQ, SMH, TLT, GLD, SLV, DIA, SH, PSQ
Major Stocks: AAPL, MSFT, GOOG, AMZN, NVDA, META, TSLA, BRK.B, LLY, WMT, AVGO, COST, JPM, PLTR, NFLX
Crypto & Related: Bitcoin, ETH, IBIT, MSTR
Leveraged ETFs: TQQQ, SQQQ, UDOW, SDOW, UPRO, SPXS, URTY, SRTY
Let’s begin:
STOCK MARKET COMMENTARY