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.
DEC. E-MINI S & P 500
S & P ANALYSIS FOR THURSDAY: (11/15) We managed to get shorts off at the 2742 region on Wednesday. While Thursday has a better chance of being higher than Friday, our stop shouldn’t be in danger. Key support at 2665 now and 2645. We had projected 2600 into next week but the more bearish pattern would allow a move to 2545 if 2600 comes out.
CYCLES OVERVIEW: Lower into Nov. 16.
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