FOR MONDAY: (11/12) We looked closely at stocks cycles and most of them point lower into the Thanksgiving holiday and a few days afterwards into Nov. 27. We’re focusing on sales by Nov. 14 at the earliest. Dollar has a good chance to reach upper target of 9694.
DEC. E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR MONDAY: (11/12) Market fell about 13 points below key support at 2777 as we noted on Friday morning but came back from the dead to close at that key level. Floor resistance is at 2784 needs to come out overnight on Sunday to gain some upward momentum. This so far is still a healthy 4th wave but there are probably only a few days for the market to reach up to 2863-66 or 2910, and that may be unrealistic. We can favor longs into Tuesday and see what develops. Lower support is at 2755 if they want to fall a bit more.
NOVEMBER OVERVIEW: We looked closely at cycles and most of them point lower into the Thanksgiving holiday and a few days afterwards into Nov. 27. We’re focusing on sales by Nov. 14 at the earliest.
CYCLES OVERVIEW: Generally higher into Nov. 12-13.
