A contested election will likely send us sideways and further into the current wedge but with little predictable volatility.
Biden win could break us down and accelerate the wedge, giving the index an intra-week target of 2850.
Trump win could also send us sideways and further into the current wedge, with the next likely move being to the resistance at 3500. Ultimately leaving open the case for a bull flag, with a conservative target of 4000 for August 2021.
Biden win could break us down and accelerate the wedge, giving the index an intra-week target of 2850.
Trump win could also send us sideways and further into the current wedge, with the next likely move being to the resistance at 3500. Ultimately leaving open the case for a bull flag, with a conservative target of 4000 for August 2021.
Comment:
and we stopped at 3500.75 on Fridays close
Trade active:
Game-changing news about the vaccine caused a run on the resistance of 3500. Go heavy on renewable energy plays, cannabis plays, and energy transition plays.
Trade closed: target reached:
The bad news is we got here without a good correction, doesn't mean we ever have to revisit the 3500 level but the technicals technically could pull through, again ;).
Comment:
one of the best calls I have made.
