Sunday, July 21, 2024

ES Morning Update November 8th 2018

Well, the bulls put on a stellar rally yesterday in relief that the midterms are over with. It's back to original target zone of 2800-2850 on the SPX, and we are hit the lower zone yesterday. Today is looking like a small pullback day as the futures are down a little here before the open. There's no way to know the exact high for this rally up but time-wise it should finish by the end of this week and rollover next week. I'm looking to add more shorts today or tomorrow as this is likely the last time we'll see this level for quite awhile.

There are many down side targets others have out there, and most are in the 2400-2500 zone. I'll be looking for this move to last 18-20 calendar days and will try to figure out the low based on that time count. Also I'm worried about a full blown crash happening. I won't be able to see it in advance most likely but as long as I focus more on time count instead of downside levels I should be able to get close to the bottom. But for now I'm just taking bites in this rally up with partial shorts. I pray this won't be a huge crash as if it happens we are likely going into another depression where we won't bottom until 2021.

Odds have certainly increased in my opinion on this scenario but still low. I still believe that the elite rigged the election for Trump to win and not Hillary, even-though though they lead everyone to believe it was rigged for her. It is my opinion that they put Trump in office so he could be the fall guy for the coming depression... which is why I see odds increased on a crash coming with this next drop and not just a C wave down of some degree. Again, it's not something I'm guaranteeing to happen (and something I really don't want to happen), but there's a lot going on with ritual codes and FP's that have me increasing the odds of it happening. Anyway, today the sun is shining outside (little cold still) and I'm alive and healthy so I shan't worry about things I can't control. Have A Blessed Day.

Author: Red

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