BHSL schreef op 2 november 2020 00:06:
www.thetechnicaltraders.com/market-br...We believe this week will be very volatile and wild because of the US Presidential elections. We believe the recent breakdown in the markets, as you can see on the charts, needs to find immediate support above $299 on the SPY – quickly. If this does not happen, then we may be entering a much broader downside market trend.
We highlighted a Dark Cloud Cover pattern on the Monthly SPY chart about 35 days ago, which has now confirmed. There have been instances where this type of topping/sell signal pattern is immediately reversed by a strong rally, but right now we are uncertain that is likely to happen. Too many factors are aligning to suggest a broader downside move is pending.
Still, we understand the real risks of the market and also understand that by the time early 2021 trading starts to unfold, many of these concerns will likely be behind us. Our predictive modeling systems are suggesting a moderately strong Christmas rally is likely to close out 2020. We may see a very quick downside move, followed by a moderately strong Christmas recovery. Therefore, we are eager to see how the next few weeks and months play out as we see many incredible opportunities for traders on the horizon.