DrStool Posted November 11, 2020 Report Share Posted November 11, 2020 My longer term work has consistently led me to a bullish conclusion. Stock Market Biden Time for the Bulls My comments here pertain only to today, not to what I expect longer term. The trading pattern in the ES fucutures since the close in NY yesterday is odd looking relative to recent weeks, and recent weeks have been odd looking. Make that recent months. The Fed has distorted the playing field. The overnight gaps have been legendary. The legendary has become ordinary. If you're not hedged by trading the fucutures 24 hours a day you are guaranteed an ugly surprise a couple of mornings every week when you get up and look at your screen for the first time at 6:30 AM. What a goddamn mess. But last night, they went sidewasyf ro a change, at least until 3 AM ET. Now, in the last hour, they've perked up and the oscillators are looking more and more bullish. If there's no reversal in the next few hours, we're going to be looking at another absurd gap when NY opens. At the moment, I have no projections on the 5 day cycle. The 2-3 day cycle projects to 3590-3600. We also have a small reverse head and shoulders breakout patter here, that measures to 3610. Resistance is projected 3586-3610. So, unless this morning's little breakout fails immediately by dropping well below 3560, I'm expecting to see that round number again, plus some extra. Oscillators are bullish on both the 60 minute and 30 minute bars. Click to enlarge. Get the longer term view with weekly swing trade chart picks to take advantage of market moves regardless of direction at Lee Adler's Liquidity Trader- Technical Trader. 90 day risk free trial. Link to comment Share on other sites More sharing options...
SiP Posted November 11, 2020 Report Share Posted November 11, 2020 we need ES below 3500, if not, bulls time. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2020 Author Report Share Posted November 11, 2020 Bond market is closed today. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2020 Author Report Share Posted November 11, 2020 Dollar a bit stronger against the EUR today. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2020 Author Report Share Posted November 11, 2020 EUR/USD seems to have topped. Looks like a lower high here than last month. I hope. Link to comment Share on other sites More sharing options...
SiP Posted November 11, 2020 Report Share Posted November 11, 2020 bears need es below 3535. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2020 Author Report Share Posted November 11, 2020 2-3 day cycle projection 3585 Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2020 Author Report Share Posted November 11, 2020 Hourly and 30 min oscillators edge to the sell side. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2020 Author Report Share Posted November 11, 2020 Support is right about here. Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2020 Author Report Share Posted November 11, 2020 Why can't the US afford Medicare for all, but every other civlized nation on earth can? Link to comment Share on other sites More sharing options...
DrStool Posted November 11, 2020 Author Report Share Posted November 11, 2020 1 hour ago, DrStool said: Support is right about here. What he said. Link to comment Share on other sites More sharing options...
SiP Posted November 11, 2020 Report Share Posted November 11, 2020 This was big news https://finance.yahoo.com/news/china-turns-heat-internet-giants-051755139.html So EU and now China will try to deminish and regulate BigTech. Let's see how US will regulate Bigtech. There will be big push from EU. Link to comment Share on other sites More sharing options...
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