Signals & Trading Plan for Friday 11/8/19

Market context
This morning we posted a pre-market update because stocks were gapping up at open, on a bit of exciting US China trade deal news.  Some time  in the near future, there may be a possible partial trade deal with some partial tariff rollback.  Yay!  Reading about this pas-de-deux between US and China is like reading about an on-again, off-again romance between two celebs.  (Are they or aren’t they being having a relationship?)

We also pointed out in our morning post some clues indicating that this exciting news was likely already baked into the price of stocks at this point.  In other words, Big Money algos aren’t likely to kick into buying mode.  The gap up at open may turn out to be a possible short-term top.

If you did follow our long, intermediate or short-term strategies laid out yesterday, you wouldn’t have entered long at open this morning.  Let’s see how we can position ourselves for tomorrow.

The rest of this article covers:
Table of support and resistance levels
Projections from market internals
Planning your trades

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