Nov 10 – Weekend Review

/in /by

It was a bit of an exhausting week with the constant volatility and choppiness in various sectors of the markets.  let's review this weeks  market activity....

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IWM DAILY  - I drew this on Nov 8 saying that short term, I would expect the markets to pull back due to this light volume rising bear  wedge, however...

 

IWM DAILY  - That doesn't mean a big pull back, it may simply be this tag of the 10sma...

IWM DAILY  - And so far that is what we have.  IWM dropped and bounced off of the 10sma.

   

Now let's look at the Bigger picture...

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November 8th – Friday

/in /by

It is the Last day of the week and the Elections have passed, the somewhat non-event of the FOMC Meeting has passed, so now let's just take a look at what we have going on...

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SPX - We had a slight pause on day 8, so I have just drawn in a possible dip to an inverse H&S at the 10 sma as support.  This is just hypothetical.

 

However here is another reason that I think we may see a drop in the General Markets....

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November 8th – Propping Up The Markets

/in /by

As mentioned yesterday, Markets do not like uncertainty, but with elections out of the way, we could get a Post Election Pop.  As you can see, we got that Pop.  Today is an FOMC Meeting, and there were a few other areas of interest that continued to set up for higher price too.  Let's take a look...

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SPX - On day 7, we can expect markets to hold up above the swing low from here, but I'm still wondering if they can recover fully,  or will things remain a bit choppy again going forward?

 

This is what I am looking at...

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