Since we had a higher bounce of 96 points, we should set a
higher low. Maybe close the gap and form a right shoulder for
inverted head and shoulder? Asking for input. Thanks.
yeah that's the 'bulls' hope is that the SPX can form a higher
low and the QQQ's a minor new low or double bottom. Clearly we'll
see how the market reacts tomorrow and Wed
Seems plausible if we can perhaps get higher close today,
carried through tomorrow then get the final sell off on turn around
Tuesday pre election - that is my preferred view. Else we
just sell off today and tomorrow and perhaps only make pinnochio
moves under support on the longer time frames. It's anyone's
guess what happens post election though. If Trump pulls it
off, It's gonna be wake up Wednesday. If Biden wins and Trump
makes a big stink in court or lame duck setup (per current
predictions) I think we sell off further before this turns
around.
This is not to be taken as something to trade off of but what if
the Dems sweep the Senate, House of Reps and Pres? Then the new
stimulus would come very quickly; possibly even before Jan and
could be for more. If not before January, the market could
still bank on the fact that it would happen in early next year.
Combined with a possible vaccine around that timeframe, we could
have a nice sustained rally.
Also, any reversal of tax cuts to corporations wouldn't take
effect until 2022 under Dems.
One could also likely make an argument on the opposite side that
things will get more "business unfriendly" under a democrat
controlled government and the market could go south on that
sentiment even if things don't change right away. Who knows,
it will be interesting to see how things play out for sure!
Since we had a higher
Posted by mdgfain on 2nd of Nov 2020 at 01:40 pm
Since we had a higher bounce of 96 points, we should set a higher low. Maybe close the gap and form a right shoulder for inverted head and shoulder? Asking for input. Thanks.
I posted mine before Matt’s
Posted by mdgfain on 2nd of Nov 2020 at 01:44 pm
I posted mine before Matt’s post. Maybe it is just retesting the breakout and will not close the gap?
yeah that's the 'bulls' hope
Posted by matt on 2nd of Nov 2020 at 02:44 pm
yeah that's the 'bulls' hope is that the SPX can form a higher low and the QQQ's a minor new low or double bottom. Clearly we'll see how the market reacts tomorrow and Wed
Seems plausible if we can
Posted by fredsaid on 2nd of Nov 2020 at 03:00 pm
Seems plausible if we can perhaps get higher close today, carried through tomorrow then get the final sell off on turn around Tuesday pre election - that is my preferred view. Else we just sell off today and tomorrow and perhaps only make pinnochio moves under support on the longer time frames. It's anyone's guess what happens post election though. If Trump pulls it off, It's gonna be wake up Wednesday. If Biden wins and Trump makes a big stink in court or lame duck setup (per current predictions) I think we sell off further before this turns around.
This is not to be
Posted by cozz101 on 2nd of Nov 2020 at 03:08 pm
This is not to be taken as something to trade off of but what if the Dems sweep the Senate, House of Reps and Pres? Then the new stimulus would come very quickly; possibly even before Jan and could be for more. If not before January, the market could still bank on the fact that it would happen in early next year. Combined with a possible vaccine around that timeframe, we could have a nice sustained rally.
Also, any reversal of tax cuts to corporations wouldn't take effect until 2022 under Dems.
One could also likely make
Posted by blayden on 2nd of Nov 2020 at 03:15 pm
One could also likely make an argument on the opposite side that things will get more "business unfriendly" under a democrat controlled government and the market could go south on that sentiment even if things don't change right away. Who knows, it will be interesting to see how things play out for sure!
Agreed also valid for a
Posted by fredsaid on 2nd of Nov 2020 at 03:11 pm
Agreed also valid for a bull case. I'm trying to get as much to cash as possible ahead of tomorrow's close.