Trade Plan for 10/13-10/17
Finally reached a weekly level and rejected HARD last week, now what?
Last week I was focused on shorting $ES/$SPX futures at my weekly resistance of 6802.50. It was a great day trade for several days, but the real payoff was shorting a breach above on Friday.
$NQ/Nasdaq futures also looked like a double top to me on the hourly Friday so the stop on a breakout above was clear. 💰💰💰
I was reasonably confident that $ES/SPX futures would reach my daily level of 6629✅, where I thought it had a high probability of bouncing, but unfortunately, that trade didn’t work.
I have continued to swing some overbought tech shorts, as opposed to shorting the indices directly for any extended period of time, because I believed (and still believe) that trade strategy is the safest contrarian bet in the intermediate term.
$GDX/gold miners lost ground last week after many green weeks and silver left a large upper weekly wick. This week I give levels to watch for breakdowns, potential dip buys and breakouts. equivalent weekly level, now support, will hold.
$CL/Crude oil futures popped early last week, but the breakdown from last week held.
Summary of Market Action Last Week:
· The indices rejected important resistances all week. Friday they breached slightly above, but dramatically fakey breakied decimating weeks of gains in a single day.
· $GDX/Gold miners also declined on the week, but held relative strength. $GC/gold futures managed to hold a gain despite $GDX/gold miners and $SI/silver futures declining for the week.
· $CL/Crude Oil futures and $XOP/oil equities lost ground on the week after a positive start to the week.
Here’s how last week closed out:
For the week ahead (10/13 - 10/17/25)