Pre-Bell Futures Day Trading Strategy – 21 Nov 2024
1. ES=F (S&P 500 Futures)
Market Overview:
The price has moved up by 28.5 points, signaling bullish sentiment. With strong volume at 283,535, institutional players may be active.
Technical Analysis:
Support Levels: 5905, 5937
Resistance Levels: 5970, 6000
Indicators: RSI near overbought; MACD signals bullish divergence.
Foundational Analysis:
Positive sentiment could stem from strong earnings or dovish Fed news.
Watch U.S. economic data releases today.
Trend Identification: Bullish
Likely to retest 5970. If momentum persists, 6000 is achievable.
Scenarios:
Bullish: Buy at 5960, Target: 6000, Stop: 5935
Bearish: Short at 5970 if rejection, Target: 5937, Stop: 5985
Trade Rating: 8/10 – High likelihood of success due to strong volume.
Volatility Insight: Moderate
2. NQ=F (NASDAQ Futures)
Market Overview:
Biggest mover with a +136.75-point increase. High volatility with 164,739 volume.
Technical Analysis:
Support Levels: 20738, 20800
Resistance Levels: 20888, 20950
Indicators: RSI overbought; Bollinger bands widening.
Foundational Analysis:
Likely driven by tech stock optimism. Keep an eye on mega-cap earnings.
Trend Identification: Strong Bullish
May break above 20888 and push toward 21000.
Scenarios:
Bullish: Buy at 20850, Target: 21000, Stop: 20750
Bearish: Short at 20900 if rejection, Target: 20800, Stop: 20950
Trade Rating: 9/10 – High probability of success with tech momentum.
Volatility Insight: High
3. YM=F (Dow Futures)
Market Overview:
Modest gain of +153 points with lower volume compared to others.
Technical Analysis:
Support Levels: 43383, 43500
Resistance Levels: 43749, 43800
Indicators: Momentum fading slightly; neutral MACD.
Foundational Analysis:
Industrial stocks lagging tech, less exciting for momentum trades.
Trend Identification: Neutral to Bullish
Likely range-bound unless market news shifts significantly.
Scenarios:
Bullish: Buy at 43550, Target: 43800, Stop: 43400
Bearish: Short at 43700, Target: 43500, Stop: 43850
Trade Rating: 6/10 – Trade cautiously.
Volatility Insight: Low
4. RTY=F (Russell 2000 Futures)
Market Overview:
Smaller gain of 12.3 points with low volume (27,428).
Technical Analysis:
Support Levels: 2335, 2320
Resistance Levels: 2355, 2370
Indicators: RSI neutral, suggesting limited movement.
Foundational Analysis:
Small-cap weakness reflects broader caution in risk appetite.
Trend Identification: Neutral
Range-bound day expected unless surprises emerge.
Scenarios:
Bullish: Buy at 2340, Target: 2355, Stop: 2325
Bearish: Short at 2350, Target: 2335, Stop: 2360
Trade Rating: 5/10 – Avoid unless clear breakout.
Volatility Insight: Low
5. GC=F (Gold Futures)
Market Overview:
Gold rising with +20.2 points, signaling safe-haven demand.
Technical Analysis:
Support Levels: 2650, 2655
Resistance Levels: 2676, 2700
Indicators: Bullish MACD; RSI approaching overbought.
Foundational Analysis:
Gold rally driven by geopolitical or inflation concerns.
Trend Identification: Strong Bullish
Likely to test 2676 and aim for 2700.
Scenarios:
Bullish: Buy at 2660, Target: 2700, Stop: 2650
Bearish: Short at 2676 if rejection, Target: 2660, Stop: 2685
Trade Rating: 8/10 – Good upside.
Volatility Insight: Moderate
6. CL=F (Crude Oil Futures)
Market Overview:
Oil gains +1.31, signaling optimism around energy demand.
Technical Analysis:
Support Levels: 69.00, 68.80
Resistance Levels: 70.40, 71.00
Indicators: RSI shows room to climb; MACD turning bullish.
Foundational Analysis:
Optimism around global demand recovery.
Trend Identification: Bullish
Likely to push toward 71.00 on momentum.
Scenarios:
Bullish: Buy at 70.00, Target: 71.00, Stop: 69.50
Bearish: Short at 70.50 if rejection, Target: 69.50, Stop: 71.00
Trade Rating: 7/10 – Moderate risk/reward.
Volatility Insight: Moderate
7. ZN=F (10-Year Treasury Futures)
Market Overview:
Flat price action with no change in movement.
Technical Analysis:
Support Levels: 109.50, 109.60
Resistance Levels: 109.87, 110.00
Indicators: Neutral RSI; Bollinger bands tight.
Foundational Analysis:
Waiting for macroeconomic cues or rate policy updates.
Trend Identification: Neutral
Low volatility expected today.
Scenarios:
Bullish: Buy at 109.60, Target: 109.87, Stop: 109.50
Bearish: Short at 109.80, Target: 109.60, Stop: 109.90
Trade Rating: 4/10 – Low priority.
Volatility Insight: Low
8. ZB=F (30-Year Treasury Futures)
Market Overview:
Marginal loss (-0.09375), indicating indecision.
Technical Analysis:
Support Levels: 116.28, 116.40
Resistance Levels: 116.84, 117.00
Indicators: Weak momentum.
Foundational Analysis:
Bond markets quiet ahead of economic data.
Trend Identification: Neutral to Bearish
Likely to drift lower.
Scenarios:
Bullish: Buy at 116.40, Target: 116.80, Stop: 116.20
Bearish: Short at 116.60, Target: 116.20, Stop: 116.80
Trade Rating: 4/10 – Avoid unless you specialize in bonds.
Volatility Insight: Low
Recommendations
Top Futures to Trade:
NQ=F – High volatility, strong bullish trend.
ES=F – Good volume, bullish continuation likely.
GC=F – Strong safe-haven demand.
Futures to Avoid:
RTY=F – Low volume, range-bound.
ZB=F – Indecision, unattractive risk/reward.
This strategy ensures clarity and tactical awareness for pre-market preparation.
Day Trading Strategy Disclaimer
ALWAYS DO YOUR OWN ANALYSIS. NO ONE CAN PREDICT THE STOCK MARKET, BUT YOU CAN MAKE INFORMED DECISIONS TO INCREASE YOUR CHANCES. IN DAY TRADING: MINDSET AND ATTITUDE BEATS SKILL. CHOOSE THE SCENARIO THAT MEETS YOUR RISK AND STRATEGY AND SECURE THE WIN. NOT EVERYDAY IS A TRADING DAY AND ALWAYS LIVE TO TRADE ANOTHER DAY
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You should thoroughly evaluate your financial situation and risk tolerance before engaging in any trading activities. It is advised that you consult with a licensed financial advisor or professional who can provide personalized investment advice tailored to your individual needs.
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Risk Warning: Leveraged trading can result in losses that exceed your initial investment. Please trade responsibly.
