ES Morning Update November 12th 2020


Another day of chop likely I think. A little more drifting slightly downward versus upward seems higher odds I think. I don't think we'll get too low though, maybe into the low 3500's... not sure? It's still acting like a sloppy medium wave 4 down to me with the pop and drop high on Monday marking the end of medium wave 3 up.

If all goes as planned then at some point soon we'll start going back up and top out going in late next week for the monthly options expiration. It could last into the 4th week I guess but what I'll be focused on is a move up to at least a double top of 3668 on the futures. But my gut tells me we'll take that out due to the cash SPX only reaching 3645... which I think we'll get closer to 3700 before this all ends. Like in the 3680-3690 SPX area probably.

That would be a perfect end to medium wave 5 up, inside large wave 5 up, inside extra large wave B up from the March lows. I still think we'll have a Flash Crash to start off the large A wave down of the extra large C wave that should take out the March lows before it finally bottoms. You know it's coming with all the insiders selling.

This will all be timed around Trump proving election fraud and winning. My guess is that as soon as he takes the lead in electoral votes it will be assumed he's the winner and that's when we see the crash. They won't wait until it's official is what I'm saying. Have a wonderful day.

P.S.   The CEO of Pfizer seems to know the vacinne is worthless and won't be used, which will of course make share price of the stock drop... LOL.

  • On Monday, Pfizer shares soared 16% following a bullish statement on the company’s experimental COVID-19 vaccine showed 90% effectiveness in preliminary results. Then on Tuesday, according to a Securities and Exchange Commission filing, Pfizer CEO Albert Bourla sold 62% of his stock.

The SEC Form 4 filing showed Bourla sold 132,508 shares at an average price of $41.94 per share, equivalent to $5.6 million – nearly top-ticking the 52-week-high.