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Remember to Put On Your Mask When You Stop At the Rest Area 11/18/20

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Dare we dream? Two straight down days?

Nah. 

Yesterday, I pointed out the importance of the 3586 level. We've got a double bottom there on the ES fucutures hourly overnight. If they clear multiple trend resistance at 3611, it will be up, up and away. 

On the slight chance that they break 3586, beware of a fakeout shakeout to trend support now at 3575 dropping to 3571 when NY opens. Only if that's broken is there a shot at more than your daily shake and bake sale. 

On the other hand, if they clear 3611, then we'd be looking for 3645 in a heartbeat, with a possible bathroom break at 3620-25. 

Please remember to don your mask when stopping at the rest area. Those bathrooms are full of virus. 

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30 Minute bars show the trend breakout and resistance looming at 3620. Once through that, 3645, lickety split. Indicators bullish. 2-3 day cycle projection 3633. 

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Let's just hope the Fed doesn't do their QE increase before it is absolutely certain that Trump will leave the White House.  I'm not strongly confident they will wait. Hopefull? Sort of but bankers and fascists tend to come together as a general rule.  I had  no hope our press would ask Powell  over the last few months if it would be business as usual if the elections outcome was bizarre and unusual.  Nobody thought to ask.  Possibly the Fed itself hasn't considered it. Which is no less a comforting thought than if they have thought of it and have decided it will be gung ho  no matter what.  

If not this year then there is always 24 or 28.

The German banking system didn't skip a beat  after the Enabling Act. Hell they voted for it. 

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2 minutes ago, DrStool said:

The Fed won't increase QE until there's a new spending bill that requires an increase in Treasury debt. At least that's how they've always done it. TBAC Magic 8 Ball Cloudy

 

What if TNX heads towards 10 again.  The talk is out there I posted an article the other day.  I suppose your right. The very serious people are saying the Democrats should take a small deal now. Which would be late Dec.                         

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