Continued trading sideways makes a “Bear Flag” on the daily chart of the SPX, and all other indexes. Assuming the election is still held on the 6th and not delayed I’d say that this chop could continue until then.
And, since the 6th is another “eleven” day, I also say that if there is going to be another wave of selling down then this date is the most likely date for the high before the selling starts.
My thoughts are that they will take it up to hit the downward sloping trendline, which should be around 1450 SPX by Tuesday.
certainly a nice up day, sold earlier then i wish, but I think I’ll short sometime tomorrow just in case something stops the elections
QQQ Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2012/11/qqq-support-and-resistance-levels.html
Yes, this is likely a C wave up… and I expect it to continue tomorrow as well.
looks like they started the C wave up. More Bull
Should be about the high for the day but I expect more tomorrow…
http://screencast.com/t/cO8TAtLp1j
ES resistance levels: http://niftychartsandpatterns.blogspot.in/2012/11/es-resistance-levels.html
Ford Motor Inverted head and shoulders: http://niftychartsandpatterns.blogspot.in/2012/11/ford-motor-inverted-head-and-shoulders.html
futures down nicely
Continued trading sideways makes a “Bear Flag” on the daily chart of the SPX, and all other indexes. Assuming the election is still held on the 6th and not delayed I’d say that this chop could continue until then.
And, since the 6th is another “eleven” day, I also say that if there is going to be another wave of selling down then this date is the most likely date for the high before the selling starts.