Last week was a wild one: a big midweek bounce in the indices, a sharp reversal, and precious metals moving the other way. I was watching 2 big support levels for $ES/SPX futures this week, 7548.50 (“careful long”) and 7496.50 (higher probability long). I took half of my 7496.50 long at 7695.50 for 200pts in profit💰before profit stopping out of the rest on Thursday’s drop. Here is how those levels performed:
And, YES, I am still long $TLT from 76.69:
I was looking for $GC/Gold futures to recover a lost level from the previous week before re-longing metals. On Wednesday, gold reclaimed it from below and ran to 4080.8. By Thursday it had reached my resistance levels. The strength I wanted to see showed up.
$CL/crude oil futures declined below my ‘bearish for indices’ level into neutral territory, but that didn’t matter for the big indices drop on Thursday. It’s still in neutral territory for now.
Summary of Market Action Last Week:
· $ES/SPX futures and $NQ/Nasdaq futures bounced hard into Wednesday, then sold off sharply on Thursday. Friday brought a flush and recovery, but all three indices finished the week lower. $NQ led the losses; $RTY/Small Caps futures held up better. The levels I am watching next are in the paid section.
· Precious metals rebounded as the indices finished lower. $GC/Gold futures closed at 4074.9 and $SI/Silver futures finished at 51.942. $GDX/gold miners ETF led the gains, closing at 87.60.
· Energy was mixed. $CL/Crude Oil futures fell sharply and closed at 90.83, while $XOP/oil equities fell even harder to 173.77. $NG/natural gas went the other way, finishing higher at 3.003.
Here’s how last week closed out:
I broadcast hourly charts with weekly and daily levels 23/5 on Discord while futures are open. I give commentary and positioning during market hours.
A quick note before this week’s levels
Starting Tuesday, Nov 10, the monthly price for NEW members goes up from $69 to $96. The yearly plan stays at $690.
If you’re already a member, nothing changes for you. You keep the price you signed up at for as long as you stay subscribed AND if you leave and then come back later. I will still honor the $69 monthly price when you return. Just message me on Substack about it.
If you’ve been thinking about joining, now through Monday is the time to lock in the current rate. Thank you all for being here. Building this community with you has been the best part of my week, every week.
For the week ahead (11/9 – 11/13/26)