ES Thoughts 11-30-20

This represents whatI envision the short term today. Open down into 3609 range, then back to the moon trajectory like before. Probably choppy in between and potentially a nasty bear ceiling hit after that, but there is still a fair amount of support in upward direction. That being said, this feels like the end of a EW wave 3 and/or 5, which would fall in line with the EW lovers out there that show we have been and are rounding the finish line of several concentric wave 3's.

Something to note: last night was the full moon which can often signal a change in direction which could be we really start going bear here. All the signs starting to point to bear, but I think sideways overall is more likely the case, at least for a while longer.