InsideTheNumbers Today 04/10/2024

David Frost // Inside The Numbers

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April 10  

Below is every word of the commentary from Wednesday’s market. When you have the numbers, you have opportunity. Check is out because today was an absolute trading bonanza in the LIVE Room and InsideTheNumbers.

12:00: ┬áRest of day schematic…

514.50 is the pivot for the afternoon…

Above and she’ll try for another rescue operation…

It’s overhead resistance until or unless they close candles above…  (Time)

The trendline around 513.40 is important.

Below opens the door for the low of day at 512.67…

Below the low opens the door for 512.15 – 511.35.

Which is a support zone where they should bounce the tape…  (Late this afternoon isn’t the same as with time on the clock…)

IF below 511.35 the door would open for 510.21 give or take…  (Which is the same as 510.00)

Great job today for those that were participants.  (LIVE Room was a bonanza)

We’ll see you in the video tonight…


11:45:  The trendline is your bogey…

Below and the door is open for the lows and lower…

Still 512.15 – 511.35 is a support zone…

If they were to get below 511.35, the next number down in the sequence is 51.21…

Back around lunchtime…


11:20:  They’re back close to “the trendline.”

5413.40 or so at this point…

Below is the bear case, staying above and they can try and bounce it again…

The easy money has been made during the morning rush.. FYI…

Back as needed….


10:59:  And there’s your bounce at 514.00 give or take…

Funny how that works…


10:56:  And there’s your 514.35 and lower…

Exit zone for shorts.  (holding a trailer is traders choice for the never know)

They can bounce the tape around 514.00 give or take…


10:46:  And there’s your pull back from within the resistance zone…

Base hit in the books.  414.35 – 414.00 give or take is support and another exit on the short…

Nice trade!


10:34:  And there’s your 515.55.


10:10:  IF they run up to 515.50 – 516.50 give or take any time soon, it’s a short scalp with potential opportunity.

Also would be an exit slash target for those long riding the rescue…

It’s overhead resistance…

It’s starts with candle closes above 514.35…


9:58:  And there’s your 513.35 and a pause on the rescue train…

Funny how that works…

Above on candle closes opens the door for 515.50 give or take…


9:48:  512.15 down to 511.35 give or take is now a support zone for a bounce back…


9:34:  Give or take, it’s all about the trendline at present.

Above and she’s poised for a rescue and below she’s not…


9:15:  Here are a couple of things we can say…

There’s support around 511.35 give or take, down to 510.21 give or take…

For a bounce back in the other direction…

What would be the prize on that trade?

A test of the trendline around 513.35 give or take…

Above 513.71 is the bull case for a rescue operation attempt…

513.35 – 513.71 is overhead resistance…

And remember.  Above the trendline, the door opens for 414.35…

It’s overhead resistance.

Above there is even a better rescue…


8:55:  Here’s the new thing with the new stuff…

First, they’re below the bear pivot.  Ha ha.

Next, we’ve got a spike in volatility which is great for traders, but not all traders…

You have to manage risk and understand that the moves this morning will be larger on a relative basis…

This means you can reduce your position size in the name of “just in case…”

Now…

Remember our trendline?

Today it comes in around 513.35 give or take.  (hard to pinpoint the exact penny)

Either way, at the time of this writing, they’re below…

While below, we call it “overhead resistance…

The bull case is now getting back above and staying above 513.71.  

IF above, the next target on the upside is 514.35.

IF they stay below the trendline, here’s what we’ve got…

513.07 is important as is 512.76.  Below that stuff and the door opens for 512.15 down to 511.00…

Which is support and a bounce back zone for a trade, not a marriage…


8:32:  And the dater is out…

Kill the tape was the decision.

Great, creates opportunity.  

Back with updated stuff later…


EarlyThoughts (Zero dark thirty stuff…)

It’s hump and alphabet soup day…

Mrs. Market spent the entire Globex session eating time off the clock while grinding slightly higher…

However, all bets are off following the CPI dater release shuffle…

Here are the early numbers…

We’ll start with 518.55 which is the bear pivot today…

Below on candle closes opens the door for a support zone between 516.50 – 515.55 give or take…

Any more sell side action will be handled either post eight thirty dater release, or in real time as and if needed…

The flip side and bull case is getting above 520.75 which is the bull pivot and opens the door for the next leg up on the bull train…

We’ll provide the required and necessary numbers as and if needed…

About the Author

Trading and investing in markets is second nature to some, but a mystery to others. The goal is to provide a forum where everyday people aspiring to be part time or full time traders will learn how view markets differently and profit beyond their wildest dreams.

David Frost