On Auto-Pilot
The major futures
markets are bleeding red thus far this morning,
with our auto-pilot intraday trend indicators again providing strong trade
guidance and opportunity. Entry options have been abundant this morning for both
short- and intermediate-term intraday traders, including an early 13-minute
pullback on the knee-jerk reaction to consumer confidence data which was further
guided by
video and course triggers on the lesser one- and/or three-minute trends.
As we head into the noon hour on the east coast, the three-minute trends on both
the Nasdaq and S&P are probing reversals after having remained short since 10:00
a.m. ET within the context of 13-minute downtrends which have been in place all
day. As such, traders may want to keep an eye on 13-minute short pullback
opportunities heading into the afternoon so long as its downtrend support holds.
Holiday trading rules — which include keeping it on the lighter side —
continue to apply as we head toward the weekend and trading likely thins out. Friday
in particular is historically noted for thin trade with exaggerated price moves
and mini-squeezes, so caution is advised.
ES (S&P)Â Â Â Â Â
Tuesday November 26, 2002 11:30 A.M. ET       NQ
(Nasdaq)
Moving Avg Legend:
5MA
15MA 60-Min 15MA
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2002 Quote LLC
Good Trading!
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