Updates for Wednesday 11/4/20

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Below is a time-delayed excerpt from our live updates for members.

Updates 1:00 PM EST - Wednesday 11/4/20

Bullish for now
Between now and Friday, $SPX $NDX IWM are likely to keep rising.   They will attempt to retest the highs of 10/12.

$VIX $VXN dropped sharply down to strong support at their 200-day EMA lines.   They are likely to consolidate in this zone for a few days before they break out or break down.

While $VIX $VXN are consolidating, $SPX $NDX IWM are likely to keep climbing.   However, expect some major intraday swings because this market is still very headline driven.   

FOMC announcement is at 2:00 PM EST tomorrow Thursday.   
Job report is at 8:30 AM EST Friday.

Neither of these events are likely to move the market much, even if there is a strong potential that the job report will be quite dismal.   The final announcement of the presidential winner is likely to move the market more.

​In  Signal Trades, we entered into one TQQQ position at market price, and placed a buy limit to add more TQQQ on a pullback.   We are holding off on placing stop loss for now in anticipation of potential big and rapid swings. 
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