FOR MONDAY: (11/5) Not sure anyone can compete with the high-speed computers and on again, off again Tweets about China. We’ll continue to trade pattern and think that a bounce to S & P 2740 is a good place to be short into the election but that the could shoot out of there by the Fed and election results on Wednesday. This market isn’t for the faint-hearted. Who knows how many crazy tweets we’ll get over the weekend break. Starting to complete longer-term cycles into January and discussing them below.
DEC. E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR MONDAY: (11/5) We missed our sale and thought we had another day to get short on, and we still may. Bounce may go to 2733 or 2740 and set up a fall toward 2640 or lower, which could be complete by Tuesday night or early Wednesday but the market could rocket out of there and still get back to 2800-2820, which is what we have our sights on.