SIR Daily Snapshot_ v.1.94_November-8-19 (SAMPLE)

It is a fundamental truth that the inherent nature of the markets always offers the possibility that anything can happen. Risk is always present for upside and downside surprises. As traders, we should be cognizant of this fact and structure our trade planning and risk management accordingly – whether the technical evidence is clearly bullish, bearish or neutral with mixed signals. At askSlim we are bull/bear agnostic. The market messages drive our technical outlook. The analysis contained in the SIR products is developed as much as possible from a proprietary blend of objectively engineered trend, momentum and cycle studies and we look for alignment at multiple timeframes so we can provide the highest probability of directional bias along with projected key support and resistance levels. We will always provide upside and downside viewpoints as well.

S-T Directional Bias (few days to few weeks outlook): The sum of the evidence at this time suggests a bullish overall short-term technical condition. It is important to note that although SPX and NDX technical conditions, in terms of trend and momentum are firmly positive at this time, both indexes are now nearing or have entered key Fib Extension Resistance Zones that are likely to soon create increased volatility and risk for pullbacks into the minor and short-term support zones before another impulse wave up is likely to take shape. 

We continue to keep a close eye on the price action’s impact on the technical conditions at multiple time frames.

Upside Overview:

• • Intraday Swing Trader –
    • THE INTRADAY PRICE LEVELS/ZONES FOR SPX & NDX ARE INDICATED ON THE 15 MIN INTRADAY CHARTS
  • Short-Term Swing Trader (Few days to few weeks) –
    • On 10/15/19 the SPX had a breakout above 2995 which suggested the next impulse wave higher was underway. 
    • Above 3005 there was a Fib Ext zone (3023-3033) served as resistance in September and the SPX recently pushed through the week of Oct. 28.
    • Above 3033 we are watching a second Fib Ext zone (3052-3068) as potential area where the SPX may stall or reverse if the prior zone fails to contain the advance. SPX pushed through this area on 11/4/19 and this area has now become part of the rising minor support zone.
    • Above 3068 we are watching an initial Intermediate Fib Ext/Resistance Target Zone (3092-3112) as likely area where the SPX advance may stall or reverse in the short-term. The SPX is tested and had a small pullback on 11/7/19. A reversal from this zone would likely open the door to a test of the minor support zone.

  Downside Overview: 

  • Intraday Swing Trader –
    • THE INTRADAY PRICE LEVELS/ZONES FOR SPX & NDX ARE INDICATED ON THE 15 MIN INTRADAY CHARTS

   

  • Short-Term Swing Trader (Few days to few weeks) –
    • The SPX currently has a rising minor support zone from 3061-3039
    • The SPX currently has a short-term support zone from 3004-2948

 

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15 minute Chart with Intraday Support, Resistance, HMA (Reversal “Scout”) and Breakout/Acceleration Zones- (with upcoming session view)

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2-HR Chart with Slim Ribbon Momentum Indicator, HMA (Reversal “Scout”) and Key S-T Support & Resistance Zones and Technical Notes

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Slim’s Annotated SPX Daily Chart with additional Slim Ribbon Momentum Indicator and Hull Moving Average (“Reversal Scout”) 

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15 minute Chart with Intraday Support, Resistance, HMA (Reversal “Scout”) and Breakout/Acceleration Zones- (with upcoming session view)

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2-HR Chart with Slim Ribbon Momentum Indicator, HMA (Reversal “Scout”) and Key S-T Support & Resistance Zones

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Slim’s Annotated NDX Daily Chart with additional Slim Ribbon Momentum Indicator and Hull Moving Average (“Reversal Scout”) 

 

 

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15 minute Chart with Intraday Support, Resistance, HMA (Reversal “Scout”) and Breakout/Acceleration Zones- CHART  (with upcoming session view)

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2-HR Chart with Slim Ribbon Momentum Indicator, HMA (Reversal “Scout”) and Key S-T Support & Resistance Zones 

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Slim’s Annotated RUT Daily Chart with additional Slim Ribbon Momentum Indicator and Hull Moving Average (“Reversal Scout”) 

*askSlim Trend & Momentum Tracker

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2hr Intraday Area Chart “Comparison” with SLIM Ribbon Momentum Indicator & MCI

• Slim Ribbon Momentum Key
  Green = Positive Momentum
  Red = Negative Momentum 
  Purple = Neutral Momentum
• Hull Moving Average (HMA) Key
  Green = Positive Condition
  Purple = Negative Condition
  

 

• New to Slim’s Charts? Click the following link to learn more. Slim’s Chart Training

 

• Click on the following link to learn more about Slim’s Trend Momentum Tracking Tool

 

• Our use of “Near-Term” refers to the use of 2hr intraday charts and other trend analysis that is assimilated from market data over the last 5-7 trading days. Our use of “Short-Term” refers to the use of primarily daily charts and other trend analysis that is assimilated from market data over the last few to several weeks. Our use of “Intermediate-Term” refers to the use of primarily weekly charts and other trend analysis that is assimilated from market data over the last several weeks to several months. Our use of “Long-Term” refers to the use of primarily monthly charts and other trend analysis that is assimilated from market data over the last several months to several years.