Cup & Handle Forming; Handle to complete pattern to ATH

Got the Cup; Handle will form Right Inverted Shoulder and close gap at 3307, provide springboard for impulsive move to ATH.

Current minor uptrend is not impulsive, it lacks motive structure and lower volume, weaker RSI on right wall of Cup is characteristic.

Markets will likely move rapidly higher following election, already pricing in (D) victory over incumbent; will rise regardless of outcome IMO.

IMO one more corrective down move is imminent, needs to form a higher low, complete the C&H and close the gap at 3307.

Turn back from 3328 R zone will initiate the pattern completion and end correction; when RSI goes oversold again, buy like Hell IMO.

As always, just an idea, not investing advice, speculate at your own risk; GLTA!

Comment:

Shorting; trades at Fibo 0.616 exactly, 3444

Trade active:

Played daily shorts 3x for +9k today; closed the gap marvelously! Holding longer-term shorts, closed out the dailies.

Comment:

Enetering bear spreads in QQQ 282/279; SPY 343/340, Oct 23 v. 09

Trade active:

Closed out the spreads on 2pm dip; EOD short-covering is likely to extend rally; surprising strength in small caps returns RUT to pre-covid valuations, wouldn't be wise to hold shorts AH IMO. See if it gaps up again Fri and play the fade.

Comment:

If futurz hold, looks like the rally might be headed to 67% (Gann Rally) or even the 0.786.

Comment:

Yep. Played Fade da Gap and closed all out for Fri PM. Might gap up again on Mon IMO.

Trade active:

At the strong Resistance band just above 3500, back to 31 August price. Could double top or reject from this price near the 0.786 Fibo. Entering bear spreads in 30 Oct 350P, short Weds 10/14 345Ps, GLTA!