Metals, crude look higher this week

FOR MONDAY: (11/19) The week before Thanksgiving is usually frustrating for traders. By late Monday, traders are disappearing and markets stay in useless ranges with pattern waiting to be completed. Dips on stocks will be bought for a Thanksgiving rally only to give it back early next week. Metals and crude look higher this week…


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Not enough of a definitive reversal signal for stocks

FOR FRIDAY: (11/16) Not sure anyone wants to trade after Thursday’s whippy action. Not enough of a definitive reversal signal for stocks without a close above 2750 so will see how it acts overnight. End-of-the-week congestive profit-taking may not give us new clues right away on the congestive markets like gold and silver.


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Continue to favor short stocks until next week

FOR THURSDAY: (11/15) Thursday is a better chance for a bounce for stocks but bounces have been short-lived and get sold. We will continue to favor short stocks until next week. T-notes project 119.09 and gold and silver had minor breakout but need follow-through to confirm.


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Volatility likely to increase into Friday

FOR WEDNESDAY: (11/14) Volatility likely to increase into Friday and Nov. 25, and more of it looks bearish than bullish. Crude still needs to go to 4980 at some point and the S & P to 2600. Have to see how risk/reward sets in as we come to the morning.


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Tuesday should be best chance for stocks

FOR TUESDAY: (11/13) We looked closely at stocks cycles and most of them point lower into the Thanksgiving holiday and a few days afterwards into Nov. 27. We’re focusing on sales by Nov. 14 at the earliest. Dollar has a good chance to reach upper target of 9770 and 9825. Gold is a lower channel…


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Stocks cycles point mostly lower into Thanksgiving

FOR MONDAY: (11/12) We looked closely at stocks cycles and most of them point lower into the Thanksgiving holiday and a few days afterwards into Nov. 27. We’re focusing on sales by Nov. 14 at the earliest. Dollar has a good chance to reach upper target of 9694.


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Stocks overbought but not done

FOR THURSDAY: (11/8) We always have a bit of paralysis before FOMC. Stocks are overbought but not done until 2863-66 or 2874 comes in. Logic suggests a recovery for the dollar to 9640-50 but will it hold? Gold isn’t acting well and we may throw out cycles, which are friendly into Friday, and assume it…


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S&P close above 2755 confirms bullish pattern, cycles

FOR WEDNESDAY: (11/7) With absentee ballots and recounts, we may not get final result for a month but we will get a trend in the morning. Cycles are supportive for a surge overnight and this market will be impossible to play now and probably not in the morning either. As always, waiting on news and…


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Bounce to S & P 2740 is a good place to be short

FOR MONDAY: (11/5) Not sure anyone can compete with the high-speed computers and on again, off again Tweets about China. We’ll continue to trade pattern and think that a bounce to S & P 2740 is a good place to be short into the election but that the could shoot out of there by the…


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