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11/12/23 – Sunday Stock Talk Write Up

What does the market have in store for us this upcoming week? What are the important support & resistance levels to be aware of? Read the Sunday Stock Talk Write Up to find out.

RTY Guide

Markets are extended here. There is really no other way of saying that after what turned out to be an impressive bar on Friday to the upside. That 302 point range from the Nasdaq was after it has already rallied basically straight up from the lows. A couple of questions I’m asking myself here for potential scenarios on the week.

Will Friday turn into a bit of exhaustion here, and we poke up into 15660.75 early this week and start to pullback?

If things really get crazy to the upside this week then Monday will probably be quiet, fake lower on Tuesday and then reverse to the upside and tag 15660.75?

Unless Monday gets crazy and reverses the red bar from Friday, and then Tuesday could turn into a small rally back before getting smacked on Wednesday?

There are a couple different ways this can shake out for the week, but one thing I do know is that we have plenty of volatility and opportunity here so just allow the charts to come to us this week. Pressing something on Monday morning at 9:30am just after you hear the bell ring is going to set yourself up for a very long week.

Tomorrow is a travel day for me. We all know what that means, but don’t get yourself too excited here. Let’s have a great week, and keep in mind it is OPEX as well.

Also I think the RTY will be the guide of the week, and under 1692.30 that would be pretty ugly for it.

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