what i'm looking at this week 2025.11.23

🌟 Welcome!

Apologies for the week hiatus. I was trading, but I did not write, and it was a mistake. Especially during this volatile time…everything is caving in! is this the time to buy, wait, or cut your losses? Here we focus on short term trading (mostly day time frame), with maybe some news you can use for longer term positions, but i’m gonna look at the week, give you my bias, and some possibilities.

📸 The Big Picture

it’s been a wild few weeks, three down after three up. does that mean we’re through?

Well, not quite, there certainly could be more downside this week, especially given some beautiful levels below that are ripe for the picking…

Friday, they closed below the weekly value area low. On its face it's bearish, making a lower low than the prior week's low, which was also October's low.

The bias is clearly bearish, i.e. sell the rip. if she can't get going into last week's value area, then there are a few numbers to retest, below, seen on the chart.

On the upside: if they can get started above last week's value area low, then they’ll make an attempt for last week's POC (24710.25), and, if successful, try to recapture october's value area low.

On the downside: one of the first and easiest levels to lose in short order, is Friday's value area high, and they are close to it. Will they try to gap open above it? or will they start closing candles inside Friday’s value area…if they do, then 24186 is an easy target/bounce place, but if it can’t hold, we’ll see them break to test Friday’s value area low. If they don’t try to stage a recovery close to the VAL, then I easily see them trying to crack down into the purple zone. If they can’t rescue it from there, I don’t have high hopes for a green week, more blood ahead.

All of this said, there’s a ton of news that could goose the tape back in the other direction, as to not worry people too much over the Thanksgiving holiday. lol.

In general, i’m looking to sell rips, unless momentum picks up and they start retesting last week’s highs, in short order.

I’ll be Xing here and there during the week, and will check back in tuesday morning.

https://x.com/nqracky

📰 News This week

Here's the economic data for this week:

Note: Thursday 11/27 is Thanksgiving - markets closed. A big data dump on Wednesday morning before the holiday…we could dump then rocket, or we could go down the crapper, I would not be surprised.

Here’s to patience, learning, and profits!