Pushing higher... but more GOOD news fuel needed ....

OK, this settles it, one more worry off the table..... from a very (LOL) highly credible source (LOL)

 

 

TIC TOC:

FREE Weekly analysis:

1. I remain bearish expecting 3211 🐻, do not see a convincing reason to flip bull unless we close above 3607 (now 3593)

2. Expect to sell rallies next week as long as we remain below 3607

3. If we do open and close above 3607, it presents 🎁 3750

S&P500

ADAM:
I posted earlier that #ES_F was bull flagging sideways all day for the typical 2pm rally (as we've seen most Friday's since March) and it came right on cue

It could keep going, but simply pausing here for the day & consolidating/pulling back also sets up well for bulls next week

ADAM:

Have a great weekend! Textbook charting last week: #ES_F broke out of a major triangle, backtested & rallied. Next week decides if breakout sustains or not

My plan: Its bullish above 3560, targeting 3615,3640, then 3720. If 3560 fails, its back to 3500-last support before 3430 https://t.co/V5lTN7WYGa

Bullish trade getting TOO CROWDED?

If this means it is over then it deserves a 5% rally SPX, NQ ETC

"He won" President Trump acknowledged Joe Biden's election win for the first time on Sunday, but continued to falsely insist the former vice president's victory was the result of a "rigged" election.

https://www.facebook...24999/?sfnsn=mo

15 JAN SPY PUTS
3 JAN QQQ CALLS

2 NQ HEDGE LONG

FLAT NQ DAYTRADE, FLAT EQUITIES.

Added 4 PUTS, now holding 15 JAN SPY PUTS

Added 3 qqq jan calls, tempted by nq pullback earlier

holding 2 nq hedge long over weekend +251 points so far today, may close 1 before 5pm today

Flat nq daytrades.

SPX WEEKLY UTL UPDATE...

For nearly a year, I've been pointing to the UTL from the 3.2009 low to the 1.2018 high, and how that it has turned the SPX back every time, though that more recently, it seems to be losing its power, and THIS WEEK the SPX closed above it for the first time in over 9-years...

The first chart is the SPX weekly showing the origin of that UTL, and how many times the price has been rebuffed over that time - the last week of August this year, the price actually pushed through it significantly, though was not able to close above it...

Then again in October the price came back up to the UTL, though was rejected by it again, and I said then, if it comes back to it again, it's likely suggesting the SPX is electing to extend higher from here...

Now that the SPX has found the will to close above this important UTL, it seems it could also be signaling its intent to push to that #Hurst nominal 40-week projection in the ~4008 range, OR even that next greater UTL from the 1929 high to the 2000 high, up in the ~5000 range... watching.

 

 

 

 

And here's that LT trendline above, the white UTL within the channel:

 

Edited by tsharp, 15 November 2020 - 12:37 PM.

Haven't updated gold in a while, but I think an IT top has been reached, and down into 2022 could be the case: