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Nasdaq & ES Analysis (Mon, Nov 4)
Key Levels & Trade Setups You Need to Watch Today
The Daily Trader
November 04, 2024
🌟 Rise and Shine, Traders! 🌟
Welcome to today’s edition of The Daily Trader! Get ready for another action-packed day in the market as we deliver a top-tier watchlist, expert trade ideas, and a complete market outlook to help you stay sharp. Whether you're a seasoned trader or just getting started, our insights and analysis will keep you informed and ahead of the curve.
FEATURED TRADE IDEAS
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Nasdaq Futures - $NQ
The previous day’s high and VWAP converge around the same price, making it a key area to watch closely. For potential buy positions, look for a bounce off $20,010, while $20,494 is a critical level for sell positions if a rejection occurs there. Important levels to monitor include $20,788, $20,494, $20,288, and $20,010, as price action around these points could signal significant moves.
NQ - 1 Hour Chart
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S&P500 Futures - $ES
The price is holding above the 9 and 21 EMAs, indicating potential upward momentum. A break above $5,804 could offer buy opportunities, with a break-and-retest setup serving as an ideal confirmation. Additionally, watch for a potential bounce around the $5,732–$5,724 range for support. Key levels to monitor include $5,852, $5,804, $5,732, and $5,724, as price reactions at these points could suggest further directional moves.
ES - 1 Hour Chart
Man Who Called Nvidia at $1.10 Says Buy This Now...
This company signed a major deal with Apple
Nvidia and Google are invested in this company
And its tech is found in products from Samsung and Google
FINAL THOUGHTS
Today I have a neutral bias on the market. This busy financial week, coupled with significant earnings releases and economic data, sets a cautious tone as markets and investors look ahead to the upcoming U.S. presidential elections.
Feel free to use this analysis and levels provided as confluence with your own trading strategy and apply it to your setups. Utilize the levels I’ve provided to identify potential entry points, and remember to manage risk appropriately in case of any unexpected reversals. Let’s stay patient and allow the market to present the right opportunities!
Fear and Greed Index
Data from CNN
THANKS FOR READING
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We hope you enjoyed today’s analysis, packed with all the juicy insights you need to conquer the trading world! Stay tuned for more updates, analysis, and watchlists from The Daily Trader. Remember, the secret sauce to trading success is staying in the loop and making those savvy decisions. Thank you for being an awesome part of our community, and get ready for even more epic content coming your way soon. Until next time, trade on and stay awesome!