The Unemployment Situation report released on Friday should have had a more bullish impact on the eMini S&P. S&P's rallied on the news - but before the regular trading hours opened; after that they fell out of bed.
Fridays late afternoon rallies was due to Short position covering and speculative scalping - So I am expecting Monday morning to continue its move down.
Sell rallies - hard stops not working for you? ask me about flexible stops using the market profile. We will do more training on the profile on Wednesday.
Pivot, Support and Resistance for Monday, Nov 5th:
What is Inside Edge?
A comprehensive trader’s education forum focused on e-Mini S&Ps and U.S. Treasury Bond Futures. TradeMaven’s Inside Edge features the necessary analytics and execution information in one place to speed up your decision process, keep you on the right side of the market, and eliminate so much of the noise that surrounds trading today. This unique forum is the brainchild of Charles Cochran – a trading pro who has spent the last 15 years fine-tuning a proven methodology that eliminates extraneous information and concentrates on the market activity that matters: the market activity that foretells the market's next move.
