November 11

US Stock November Monthly iMTF™ Market Update


US Stock November Monthly iMTF™ Market Update.  The US Stock markets are continuing to go higher and higher month to month.   Normally, after Labor Day, the markets go higher and this year it did the same registering new high’s in some sectors.

Since the markets are going higher month to month, we are going to focus on the daily time frame to find the major support/resistances.

All the charts are provided by eSignal.

We are first going to look at the daily chart for the $NQ Nasdaq futures.  The reason is that $Nasdaq has been leading the markets higher since beginning of the year.    As a result, we will see if this is still the case.

Here is the daily chart from last newsletter.  Price was consolidating between 5841 and 6011.

Here is the current daily chart:   Price broke the major resistance, retested it as a support and continued higher.   It is in short term over extension now.  It is making new high so there is no history for where it will go.  6274 is the minor support.


Below is the daily chart for the $Dow futures $YM.   It is making new high too.  Below is the chart from last newsletter.

Here is the current daily chart.  It has a support at 23263 and a resistance at 23411.  By having a multiple time resistance, this is showing some signs of weakness compared to the other markets.

Below is the $ES E-Mini Sp500 futures.   Like all other markets, it is making new higher.   Here is the daily chart from last month.

Here is the current chart:  It has a support at 2577.95

Below is the $TF Russell Futures chart.  This market has NOT been making new high’s   Here is the daily chart from last month.

Here is the current chart.  This is the weakest of all markets.   It has a major resistance at 1500.46 with minor support at 1455.26 and major support at 1433.59.


In conclusion, the Dow is the strongest of all markets with the Russell the weakest.   Remember, we are analyzing the daily time frame since all the markets are all time high’s.   By doing this, it is a short term view.      With the short term view, the markets can rotate who is stronger each month.

Here is the video recording:

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