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Morning everyone. Today is Friday, November 13th, and what an unbelievable day yesterday. We came down and held our 7580.25 on ES, and we gave the heads-up to our subscribers not to panic over the Nvidia news. With support on SPX at 7551.81 and VIX smacking from our 19.42, we called the long — taking us well above our massive pivot at 7599.00 into our 7622.50 area, then propelling us much higher above the significant pivot we gave the green light to get long above, all the way back into our significant Weekly at 7673.50. This Weekly was once again an amazing touch, getting extremely close to our gamma flip level. Price swept yesterday’s high and ended up getting back below the previous day’s high, only to crumble once again for well over 65 points in yesterday’s session. Two amazing calls — both the high and the low of the day — given well in advance for trade plan perfection. Congratulations to all those who took advantage of this yesterday. We had the scoreboard lit up in the inner circle, and many trade plan subscribers were also extremely fat with points.
In the overnight session, we came off the Weekly at 7673.50, only to come down once again and find support at 7599.00 with absolute perfection, sending us balancing back up as we now rest above our major Weekly pivot at 7622.50. We have moved 51.25 points in the overnight session as the market waits on this morning’s inflation data.
A Note on Today’s Market:
News: We have huge Red Tag news at 8:30 a.m. — Core PPI and PPI m/m. This is a very large inflationary number that has been the topic of conversation for quite some time, and it will more than likely decide a major make-or-break for the indices: whether we continue to propel higher, or whether the top is in and we retrace the massive leg.
Volume: Relative Volume is at -46%, but that needs to be ignored given we are coming into major Red Tag news. Players are waiting for the number, and more than likely this will balance out before we know it.
Range: Expected range of 143 points. We have currently moved 51.25 points, leaving us approximately 91 points left in today’s move above or below the overnight highs or lows. This is certainly possible.
Gamma: We are in Negative Gamma territory, with our gamma flip level once again sitting at 7678.00, right above our big 7673.50 Weekly. Dealers are currently hedging to the downside and using this area as a massive pivot.
Trend: Down. We are still pointed down on the Weekly, Daily, 4-Hour, and 1-Hour timeframes — as we’ve moved up, we have not gained support on any timeframe. We are retracing the leg, and we need to be careful as we approach the top of it, as this will be a huge make-or-break pivot for us today.
🧠 Current Market Context
Perfect Balance at the Top of the Leg
We actually find ourselves in perfect balance. Yesterday and Wednesday were beautiful balance days, and yesterday had perfectly overlapping value areas and points of control — essentially meaning we’ve gone absolutely nowhere and stayed in the same range, as the market continues to accept value here while waiting to determine direction. The overnight session has us in perfect balance as well, sitting directly in the middle of the past two days’ profiles in a very indecision-type situation. We are not at the edge. As many of you know, I always say our edge is in the edges, and right now we are directly in the middle. We need to wait for a move before we can get a signal on which direction to trade.
