12-12.3K area looks interesting to set the bet on Biden

Morning folks,

Coming week will be the last before elections turmoil and is promised to be relatively quiet. We treat chances to see stimulus pack as low and recent rally mostly is partial pricing-in of Biden's victory.
If it is everything clear what will happen in a case of D.Trump victory, concerning Biden, it seems that 12K-12.3K area looks not bad for long position taking, if you anticipate his victory.

Retracement probably will happen by few reasons. First is price has hit daily Oversold and butterfly target on daily chart, but we haven't got yet any meaningful reaction. Second - as we've said, week could be relatively quiet, only GDP release could shake it a bit. Finally, here on 4H chart we see DRPO "Sell" pattern and stop licking type of action on the top. They suggest deeper downside retracement. In a case of Biden win, our monthly COP 15.5K target probably will be reached.... If you believe that D. Trump will win - Sell it, using DRPO pattern that already stands in place.