Wall Street fecha semana em alta. S&P 500 e Nasdaq atingem recorde

[Dwer]

Market expected to head higher today but to experience weakness mid session.

Recap of Monday's Action:
Good Morning and thank you for joining us today. Appologies for no chart today.

On our Headline Call we were looking for a flat to lower opening to be bullish for the market with some weakness mid session. We got the flat opening and lower early drop which was the action needed to clean out the excessive bulls we had talked about and set up the move higher.

The first Hour One pivot hit was the BreakDown and with the market not being in a Bear Ugly state we bought the B/D at the 997.25 or lower price. We got a gradual move up and eventually prices broke through the B/O at 100075 and hit the highs at 1005.50 giving the trade 8 points profit.

Over all it was a relatively simple trade without too much heat on the stop with the High Five turning towards the bullish side cooperating with the trade idea.

Today's Call & Briefing:
Today is expected to be a little trickier. We are looking for continued higher prices however we are expecting weakness later in the session. We want to be on the lookout for a bullish BreakOut buy with all the parameters in place for that setup discussed in the Trading Handbook.

If those parameters are not there (Flat Dow under +50 at the time of the B/O with NAZ up +12-15, TRIN below .80 and lower VIX) then we will be looking to Sell the BreakOut and adding 2-4 points if the High Five are bullish

There are no special instructions other than these as the market is rolling over to a Buy mode so we will be looking for perhaps a little more lower testing but are expecting support nearby.

Value Area: 998.50 - 1,005.30
Watch the top of the VA for signs of continued bullishness. If they can get prices going above that today then we will be testing the 1015 area again soon. If they cannot push above that area then this would be the expected resistance zone.

Buy Pivot Target: 996.50 - 997.50
No Trade at this pivot today.

Sell Pivot Target: 1,008.50 - 1,007.50
No Sell at this pivot today. Watch to see if prices move through the +4.25 stop/pivot at 1012.75 to create a reversal Buy trade at this pivot (not expected) or to fall back.

10 Day "Pit Bull" Moving Average: 1,017.40
We are still in a "Sell Rallies" mentality on moves up to test this area However, if we see the market start rolling to a Buy Mode then prices should move through this area soon.

Pro Trader's Action
We are overall going to be looking for prices to push up in the early session and then get some weakness later. If we get a fast, early drop within the first 20 minutes or so of the session then we should see prices drift higher again today. If this is the case we could begin an aberration on the sell side that will carry prices higher back at least to the first goal of 1024.00 area.

We have an abreviated briefing today due to some equipment/technology changes and will be back with a more elaborate briefing tomorrow.

Congratulations if you grabbed those 6-8 handles on Monday and if you missed the trade just keep watching the TCF setups and over time you will become accustomed to the process and gain more confidence.

All the best of luck and success today in your trading. Mohan