S&P 500 - Here is my bullish guess for the week

١٦ نوفمبر ٢٠٢٠

My guess based on the MOMO of this rally. I just don't think it is going to quit yet. I feel like it is going to go mostly sideways but generally head for that 1.236 fib level by mid to late week. For the bears, there is a gap on the 4th that has not been filled and that gaps also appears in the VXX. So, I think the bears may get their chance in the next week or so. When the market sees this much FOMO/MOMO it usually ends with a bang (e.g., June and Sept). I am just sitting on the sidelines until this thing makes an obvious decision one way or the other.

Just to completely contradict myself, here is a more bearish look of the current rally.


Hope it helps and good luck.

١٦ نوفمبر ٢٠٢٠

ملاحظة

Stuck at a major trend line. Be interesting to see if it can break it.

١٦ نوفمبر ٢٠٢٠

ملاحظة

So far, not that bad of a guess.

١٦ نوفمبر ٢٠٢٠

ملاحظة

However, it could not break that trend line.

١٧ نوفمبر ٢٠٢٠

ملاحظة

Tuesday morning update

١٨ نوفمبر ٢٠٢٠

ملاحظة

I don't know. Looking weak.

١٨ نوفمبر ٢٠٢٠

ملاحظة

A bit stronger this morning.

١٩ نوفمبر ٢٠٢٠

ملاحظة

In case anyone cares. Here is a Thursday (11/19) at 10:15am uipdate.