Post-Market Recap for The Futures Playbook - 8 Nov 2024
Based on the morning trading strategy outlined in the latest pre-market strategy (sign up here), let’s evaluate how each futures contract performed and how well the suggested strategy might have played out by the day’s close.
1. YM (Dow Jones Mini Futures)
Pre-Market Strategy Recap: A bullish move above 43,953 targeting 44,100 or a bearish position below 43,854 targeting 43,700.
Market Movement: YM surged, reaching a high of 44,300 and closing around 44,182, well above the bullish entry level.
Result: The bullish scenario activated above 43,953 and exceeded the target, offering profitable opportunities.
Trade Review: Highly successful, as the market showed resilience and followed the anticipated bullish trend.
2. NQ (Nasdaq Mini Futures)
Pre-Market Strategy Recap: Short below 21,122 aiming for 21,000, or buy above 21,263 targeting 21,350.
Market Movement: NQ remained within a tight range, reaching a high of 21,265 before retracting slightly.
Result: The bullish target was narrowly missed, but the range-bound movement provided limited profit opportunities.
Trade Review: Neutral; while there were some chances to scalp small gains, NQ largely underperformed expectations.
3. ES (S&P 500 Mini Futures)
Pre-Market Strategy Recap: Short below 5,990, targeting 5,970, or buy above 6,010 aiming for 6,020.
Market Movement: ES broke out significantly, hitting 6,040.5 and closing around 6,028.
Result: The bullish entry above 6,010 triggered, exceeding the target of 6,020.
Trade Review: Successful; traders benefited from the strong upward momentum in the S&P.
4. RTY (Russell 2000 Mini Futures)
Pre-Market Strategy Recap: Short below 2,387.8 targeting 2,380, or buy above 2,402.6 aiming for 2,415.
Market Movement: RTY reached a high of 2,416.3, surpassing the bullish entry level.
Result: The bullish scenario performed well, achieving the target of 2,415.
Trade Review: Effective; small-cap strength aligned well with the bullish forecast.
5. GC (Gold Futures)
Pre-Market Strategy Recap: Buy above 2,717.8 targeting 2,725 or short below 2,687.3 aiming for 2,675.
Market Movement: Gold dropped sharply, reaching a low of 2,687.3 and closing at 2,695.3.
Result: The bearish target was nearly hit, with some profit available for short positions.
Trade Review: Moderately successful; Gold showed downside as anticipated but didn’t fully reach the target.
6. CL (Crude Oil Futures)
Pre-Market Strategy Recap: Short below 70.94 targeting 70.5 or buy above 72.25 targeting 72.75.
Market Movement: CL dropped significantly, reaching a low of 69.99.
Result: The bearish position paid off, going well beyond the target.
Trade Review: Highly successful, with Crude Oil following the bearish path.
7. ZTN (10-Year Treasury Note Futures)
Pre-Market Strategy Recap: Long above 110.516 targeting 110.7, or short below 110.109 aiming for 110.
Market Movement: ZTN maintained stability, reaching 110.609 but showing limited upside.
Result: Minimal gains, as the range was tight.
Trade Review: Neutral; limited opportunities in Treasuries today.
8. ZTB (30-Year Treasury Bond Futures)
Pre-Market Strategy Recap: Buy above 117.75 targeting 118, or short below 116.938 targeting 116.7.
Market Movement: ZTB surged to 118.34375, exceeding the bullish target.
Result: The bullish position was highly profitable.
Trade Review: Successful; bond futures responded well to bullish conditions.
Key Observations:
Equities and Bonds showed strong upward momentum, creating profitable opportunities for bullish positions in YM, ES, RTY, and ZTB.
Commodities like Crude Oil and Gold demonstrated weakness, aligning well with the bearish scenarios.
Treasury Notes remained range-bound, offering fewer opportunities.
Summary:
Today’s strategy provided substantial opportunities in both equities and commodities, with most positions aligning well with the morning’s predictions. Traders who followed the plan likely saw significant gains, especially in YM, ES, RTY, CL, and ZTB.
