Related tickers-
SPX, SPY.
Technicals:
Bulls were able to keep up the price but could not break out of the resistance.
Bullish MACD crossover on the daily.
Bearish MACD Crossover on the Hourly and bearish divergence on the RsI
Formation of a dragonfly Doji on the daily chart (indicating a possible reversal)
Ultra-low volume on Nov 6. indicating the exhaustion of bullish bias.
Others.
Rapid growth in coronavirus cases.
Political uncertainty to continue into next week OR we have a clear winner and the courts right out dismiss legal cases by other candidate. (we will know in the next couple of days)
With gridlock in Congress, there won't be a stimulus till at least Feb 2021.
The probability of a reversal looks high.
Personally would wait for confirmation on Monday.
Thank you for reading.
**Just an opinion.
SPX, SPY.
Technicals:
Bulls were able to keep up the price but could not break out of the resistance.
Bullish MACD crossover on the daily.
Bearish MACD Crossover on the Hourly and bearish divergence on the RsI
Formation of a dragonfly Doji on the daily chart (indicating a possible reversal)
Ultra-low volume on Nov 6. indicating the exhaustion of bullish bias.
Others.
Rapid growth in coronavirus cases.
Political uncertainty to continue into next week OR we have a clear winner and the courts right out dismiss legal cases by other candidate. (we will know in the next couple of days)
With gridlock in Congress, there won't be a stimulus till at least Feb 2021.
The probability of a reversal looks high.
Personally would wait for confirmation on Monday.
Thank you for reading.
**Just an opinion.
Note
Recounts are expected in all states where the margins are razor-thin.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.