FOR THURSDAY: (11/10) Now that a Trump win is behind us and everything is back to normal, we can go back to regular trading as if nothing has happened? No, but still hard to do anything overnight. China is unraveling a bit and volatility is high so have to wait for the morning. After a knee-jerk reaction, cycles are back to performing as they were supposed to this week. Just a little hiccup on Tuesday night.
S&P ANALYSIS FOR THURSDAY: (11/10) At some point we’re going to get a 31-point pullback and it will probably come from 2176 to 2145. These sucker-punch days are hard to trade. We alerted you to 2170 this morning but didn’t quite get there. Harder to trade overnight given the recent aftermath of Trump win. We still have a bias toward higher prices for Thursday and if we can find a risk/reward, we’ll go for a buy in the morning. Major resistance at 2190 an 2215 and we could see it by Monday.
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