FOR TUESDAY: (11/13) 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 9770 and 9825. Gold is a lower channel support and much under 1195 and timber will happen.
DEC. E-MINI S & P 500
TRADING RECOMMENDATION: Wait for morning comments.
S & P ANALYSIS FOR TUESDAY: (11/13) Market went about 20 points beyond our lowest support level, with 2720 very key overnight and then 2708. Given the wild swings of late, the ideal pattern would allow a recovery to 2795 next followed by a fall to 2600 into the week after Thanksgiving. There’s still a pattern that would allow for 2863 to come in thereafter, and that’s why these congestive triangles are so complicated and shake players out everyday. Tuesday should be up the best day for the market to go up. If it fails at 2750 with a sickly bounce, then it would be much more bearish than expected.
CYCLES OVERVIEW: Generally higher into Nov. 13. lower into Nov. 16.
