Last week I shared a buying opportunity within the large channel here:
This week I continued to look for long opportunities based on this recent analysis:
While I remain bullish this month, there is still a possibility that we will experience a quick correction before we see continuation to the upside.
Tomorrow morning job data is released before cash session (mainly unemployment rate, avg . hourly earnings , and non-farm employment) forexfactory.com/calendar. Market makers will likely use this event as a catalyst for a significant move. Stimulus/Vaccine/Election news this month can also act as potential catalysts.
If bears break this wedge to the downside I will look for long opportunities between $3320 and $3300. The news reaction can be positive or negative, although futures look fairly weak at the moment so I am preparing for the latter. Regardless, I am positioned long and I maintain my bullish outlook for the month. Any selloff will give me an opportunity to buy the dip and add more calls at a discount.