Early Bird Cash: No New Trade This Morning
The market is trading very weak in my estimation.
Traders are buying the market in Asia and then selling it in the U.S. afternoon. That is usually a forerunner to a bigger correction.
However, the numbers support giving it a little bit more room here to make a decision, because of the outside news, and we'll have to see how that plays out.
The number to watch for is a rise above ES (S&P 500) 3502. That would make everything "all cool."
I will keep playing my cards close to the vest after the incredible first 10 days of October.
~ TBUZ
Update On Our Open Positions:
GDXJ Trade 69: Nov 20th, $65/$70 debit call spread
The position we have on is:
+1 of the Nov 20, $65 call (a long call)
-1 of the Nov 20, $70 call (a short call)
Our entry recommendation was around $2.00 and we were filled at around $1.90. Our target exit will be 2.29 good till cancelled. Any further updates will be sent out via text/email alerts.
Recently Closed Trades
*Please note the trade sheet can be found inside your WealthPress Members Area under Trade Tracker. One that report you will also find tab for past educational recordings.
The ES (S&P 500 futures) opened at 3436, made an overnight high of 3451.75 and made an overnight low of 3428.25. Yesterday we said the range from was going to be a good measurement for this week's trading, and a break in either direction of that range would be telling. Well it didn't take long to see sellers step in and take the ES down below last week's range. That's a bearish sign, and now we'll see how the rest of the week plays out. The weekly open is 3471 and we'll be watching that pivot to tell us the selling might be done.
The yearly open of 3237 will continue to define the year. Above it and the market is generally bullish. Below it and the market is generally bearish.
ES yearly high 3587
ES monthly high 3541
ES weekly/daily high 3496.50
ES weekly/daily open 3471
ES weekly/daily low 3470
ES monthly open 3344.75
ES monthly low 3330.50
ES yearly open 3237
ES yearly low 2174
The market is trading very weak in my estimation.
Traders are buying the market in Asia and then selling it in the U.S. afternoon. That is usually a forerunner to a bigger correction.
However, the numbers support giving it a little bit more room here to make a decision, because of the outside news, and we'll have to see how that plays out.
The number to watch for is a rise above ES (S&P 500) 3502. That would make everything "all cool."
I will keep playing my cards close to the vest after the incredible first 10 days of October.
~ TBUZ
Apple (AAPL) opened at 6am CT a 117.38, made a high during the 6am CT hour at 117.47 and low at 116.95. The range from last week that we mapped out yesterday was broken to the downside yesterday afternoon, with AAPL making a low of 115.66. If downward momentum is going to continue from here, we'll see that low broken. That's what we'll be watching for, as well as the weekly open pivot of 119.96. The yearly open is 74.06, the all-time high is 138.55, the monthly open is 117.64 and the yearly low is 53.15.
Amazon (AMZN) opened at 6am CT at 3238.36, made a high during the 6am CT hour at 3240 and made a low at 3227.90. Like most stocks yesterday, AMZN saw selling pressure all day long and is already down close to 2.5% on the week. Bulls will want to see AMZN back above the weekly open 3299.61. Until then it's a hands in pocket situation for those looking to buy. The yearly open is 1875, the all-time high is 3552.25, the monthly open is 3208 and the yearly low is 1626.
Pops: Bullish Action
Drops: Bearish Action
The Early Bird Watchlist is not designed for you to take action immediately. Please use this list to get ideas from, similar to how you would use any other stock screener. The more a stock appears on one of these lists, the more likely money is flowing into or out of that stock.
Economic Reports
Key economic reports today include 7:30am CT Retail Sales, 8:15am CT Industrial Production
Click here to see all economic reports today
Key Earnings on Tap
SLB - before market open
none - after market close
Click Here for more companies reporting earnings today.
Articles
Pfizer is reportedly close to filing for vaccine authorization. Read more here.
Here's the Coronavirus Vaccine Tracker from the New York Times.
Over 38 million cases worldwide and 8 million in the U.S. Check the latest stats here.
*Always avoid open positions going into earnings
DTI's PreMarket Planner Link: CLICK HERE
