Holiday Trading Plan Nov 28th & 29th
NOTE: This trade plan is for the next two days. Both Thursday and Friday are half days for futures closing at 1pm EST. The NYSE is closed tomorrow, but open for a half day Friday. Volatility and volume will be very light and setups will be limited. The below levels are also for two sessions, which means they may be less precise than usual as I am basically averaging two days. I will post any real-time revisions and updates in private group as the day goes on.
Plan for Thursday and Friday’s Sessions
Supports:
• Major: 6009, 5993-89, 5963, 5952, 5933, 5921, 5908, 5878-5880, 5850-55, 5837, 5818-22, 5802, 5773, 5757-59.
• Minor: 6002, 5998, 5981, 5972, 5967, 5957, 5942, 5928, 5902, 5892, 5885, 5869, 5864, 5842, 5828, 5812, 5806, 5790, 5782, 5766.
Resistances:
• Major: 6025-28, 6045-50, 6069, 6089, 6112, 6121, 6134, 6152, 6185, 6195, 6214, 6232, 6245, 6263, 6271-76.
• Minor: 6017, 6033, 6039, 6055, 6062, 6076, 6082, 6095, 6117, 6142, 6163, 6171, 6200, 6208, 6225, 6238, 6256.
Context and Strategy:
The market remains in a large consolidation base between 5993-89 and 6045-50, with numerous key levels within this congested range (6009, 6025). I am still holding my 10% long runner from the ~6002 add this afternoon.
With the next two sessions being holiday trading days, do not over-trade. These sessions will likely have low volume, low liquidity, and a higher failure rate for setups due to the absence of substantial institutional participation.
Most holiday sessions tend to drift higher, but this is not guaranteed. Friday morning could see some better moves, but my bias is to avoid entries until Monday and let my runner continue working.
Key Levels to Watch:
1. 6009 (Major Support): This is the first downside test, but it has been heavily worked already. Unlikely to provide a strong setup without fresh demand.
2. 5993-89 (Critical Support): A retest here provides a safer long opportunity if bulls defend this level again. Look for a possible Failed Breakdown at this level to confirm demand remains intact.
3. 6025-28 (Major Resistance): This area remains a key upside test. Reaction here could determine whether bulls can push higher or if the range tightens further.
Scenarios for Thursday and Friday:
Bull Case:
1. Hold 5993-89: As long as bulls defend this zone, the range remains intact, and ES can build structure for another push higher. This could look like a test of 6025-28, a minor dip, and then a re-test of 6045-50.
2. Breakout Above 6045-50: If bulls clear this resistance, the next targets are 6069, then 6089. Further upside could extend toward 6112 and beyond.
3. Ultra Bullish Scenario: ES skips further downside tests entirely, flagging above 6009 and pushing directly to test 6025-28. A breakout here sets the stage for continuation toward the highs.
** I’d normally give a spot to add on strength but we have two holiday sessions ahead so this is impossible to do without seeing the action real-time.
Bear Case:
1. Breakdown Below 5993-89: For a short setup, patience is critical. The ideal entry comes after:
• A final bounce attempt at 5993-89, or
• A failed breakdown of today’s low that fizzles out, ensuring the demand from this level has been exhausted.
Enter short only after sellers flush below the structure’s lows (e.g., 5986 or higher), confirming that demand has been taken off the table. This reduces the risk of being trapped by a reversal. Refer to Edu Section for example.
2. Targets on Breakdown: If 5993-89 fails and momentum builds, watch for a test of 5963, 5952, or even a failed breakdown recovery around 5972. Be cautious as breakdown trades are low win-rate setups and prone to trapping shorts unless confirmed.
Summary for Thursday and Friday:
• Bullish Lean: As long as 5993-89 holds, the market remains in consolidation. This favors a move toward 6025-28, followed by an eventual breakout to 6069, 6089, and higher.
• Bearish Risks: A loss of 5993-89 could trigger a deeper sell-off to 5963, 5952, or beyond. Short setups require patience and confirmation of seller strength.
Holiday trading requires extra caution. Avoid chasing moves, focus on high-probability setups, and let price confirm structure before taking trades. Remember: Low liquidity can lead to erratic moves. Stay disciplined and prioritize capital preservation.
Plan for Thursday and Friday’s Sessions
Supports:
• Major: 6009, 5993-89, 5963, 5952, 5933, 5921, 5908, 5878-5880, 5850-55, 5837, 5818-22, 5802, 5773, 5757-59.
• Minor: 6002, 5998, 5981, 5972, 5967, 5957, 5942, 5928, 5902, 5892, 5885, 5869, 5864, 5842, 5828, 5812, 5806, 5790, 5782, 5766.
Resistances:
• Major: 6025-28, 6045-50, 6069, 6089, 6112, 6121, 6134, 6152, 6185, 6195, 6214, 6232, 6245, 6263, 6271-76.
• Minor: 6017, 6033, 6039, 6055, 6062, 6076, 6082, 6095, 6117, 6142, 6163, 6171, 6200, 6208, 6225, 6238, 6256.
Context and Strategy:
The market remains in a large consolidation base between 5993-89 and 6045-50, with numerous key levels within this congested range (6009, 6025). I am still holding my 10% long runner from the ~6002 add this afternoon.
With the next two sessions being holiday trading days, do not over-trade. These sessions will likely have low volume, low liquidity, and a higher failure rate for setups due to the absence of substantial institutional participation.
Most holiday sessions tend to drift higher, but this is not guaranteed. Friday morning could see some better moves, but my bias is to avoid entries until Monday and let my runner continue working.
Key Levels to Watch:
1. 6009 (Major Support): This is the first downside test, but it has been heavily worked already. Unlikely to provide a strong setup without fresh demand.
2. 5993-89 (Critical Support): A retest here provides a safer long opportunity if bulls defend this level again. Look for a possible Failed Breakdown at this level to confirm demand remains intact.
3. 6025-28 (Major Resistance): This area remains a key upside test. Reaction here could determine whether bulls can push higher or if the range tightens further.
Scenarios for Thursday and Friday:
Bull Case:
1. Hold 5993-89: As long as bulls defend this zone, the range remains intact, and ES can build structure for another push higher. This could look like a test of 6025-28, a minor dip, and then a re-test of 6045-50.
2. Breakout Above 6045-50: If bulls clear this resistance, the next targets are 6069, then 6089. Further upside could extend toward 6112 and beyond.
3. Ultra Bullish Scenario: ES skips further downside tests entirely, flagging above 6009 and pushing directly to test 6025-28. A breakout here sets the stage for continuation toward the highs.
** I’d normally give a spot to add on strength but we have two holiday sessions ahead so this is impossible to do without seeing the action real-time.
Bear Case:
1. Breakdown Below 5993-89: For a short setup, patience is critical. The ideal entry comes after:
• A final bounce attempt at 5993-89, or
• A failed breakdown of today’s low that fizzles out, ensuring the demand from this level has been exhausted.
Enter short only after sellers flush below the structure’s lows (e.g., 5986 or higher), confirming that demand has been taken off the table. This reduces the risk of being trapped by a reversal. Refer to Edu Section for example.
2. Targets on Breakdown: If 5993-89 fails and momentum builds, watch for a test of 5963, 5952, or even a failed breakdown recovery around 5972. Be cautious as breakdown trades are low win-rate setups and prone to trapping shorts unless confirmed.
Summary for Thursday and Friday:
• Bullish Lean: As long as 5993-89 holds, the market remains in consolidation. This favors a move toward 6025-28, followed by an eventual breakout to 6069, 6089, and higher.
• Bearish Risks: A loss of 5993-89 could trigger a deeper sell-off to 5963, 5952, or beyond. Short setups require patience and confirmation of seller strength.
Holiday trading requires extra caution. Avoid chasing moves, focus on high-probability setups, and let price confirm structure before taking trades. Remember: Low liquidity can lead to erratic moves. Stay disciplined and prioritize capital preservation.
Penafian
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