Afternoon,

The market was not very cooperative today as it spent most of the day in a side ways base.

The first trade of the day was a trend line break below the 56 EMA followed by a trader’s trick set-up. The time of the day was 9:18 am CST with a short entry of 450.60.

The next trade os the day was another trend line break above the 56 EMA followed by another trader’s trick set-up. The trade was up 1.50 points and the stop was moved to break even. The trade broke even. Here is the chart for trade 1 and 2.

Trade 1 and 2

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Afternoon,

The market had large swings all day and many big bars to trade off of. There were several good set-ups before my trade cut-off time on Friday of 13:00 pm CST.

The first 3 trades of the day were trend line breaks below the 56 EMA followed by a trader’s trick set-up.

Trade 1:

Time: 9:54 am CST

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Afternoon,

The market traded below the recent October lows before rallying strongly til the close. Ironically, it was this date in history (November 13, 1929) that signaled the turning point in the market after the start of the Great Depression. My guess (and hope) is that history repeats itself and the bottom has been put in. Time will tell.

The market trended all over the place today. In the first 2 hours, the market traded down 15 points and then up 15 points. Unfortunately, there were no pivots to draw trend lines.  The first trade of the day was a trend line break to the down side below the 56 EMA followed by a trader’s trick set-up. The time of the trade was 10:15 am CST with a short entry of 449.60. The trade was up 1.50 points and stop was moved to break even. The trade broke even.

The next trade was another trader’s trick set-up after a trend line break below the 56 EMA. The time of the set-up was 11:33 am CST with a short entry of 443.10. The trade took 1.40 points heat before making the objective.

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