11/09/2024 Weekend Update

[Cobra]

Up 1 week, the next week has 55% chances to close up, 77% chances to make a higher high.

So more up.

[BullBear52x]

"It is what it is department" The question of today will be "Too far too fast?" My answer will be "yes". Let see what our time frame of a trade were telling us.

Big picture, I am not as bearish as I was a week ago, Trump elected change the land scape of the big p[icture, see now and then from RSI point of view and price action overall.

A daily trend following is over bought but dip will be bought.

Swing setup: buy dip triggered at the end of Friday, we have new box, make or break. no trend change until it fails.

Intraday: there is negative price action, the late day sell off were too strong, keep it simple, I have the Fibo to handle this situation. same playbook different day as I'd like to say. Monday will tell if there will be a trend chage in a short term. trade well, Peace!

[JFR]

SPY daily.

That's a wow.

Gap up. Hammer. Plus 2 more bull candles.

Lots of hype, hot air, excitement and optimism. And, the market has moved up sharply.

EMAs up and in the correct order.

Sto and MACD bullish.

Bollinger bullish.

Volume is OK.

All the signals are good.

All in? Nope.

Possible derangement syndrome. Ha ha. What is real? What is fantasy?

Tread carefully. That applies to those who hold optimistic and those who hold pessimistic views of the economy, the markets, and yes, even the politics we are in. Buckle up.