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Click here for our Signal Trades. Below is a time-delayed excerpt from our live updates for members. Updates 1:03 PM EST - Thursday 11/5/20 FOMC FOMC announcement is at 2 PM EST today. Though we don't expect any major announcement from the Fed, we should allow for profit taking activity immediately after the announcement. $SPX $NDX IWM surged up this morning to form today's thrusts (see below). Now $SPX $NDX are in the process of snapping back to support at their 50 EMA lines (5-minute chart). Expect FOMC announcement to make them to drop towards their 200 EMA lines (5-minute chart). That would be a low-risk setup to add to your long positions based on $SPX $NDX. Additionally, $SPX $NDX IWM are expected to form the last thrust of the current up swing by tomorrow Friday. So the end target is likely to be the highs of 10/12, not 9/2. After that we may see a short-term down swing before the next up swing. Updates 9:12 AM EST - Thursday 11/5/20 Summary Short Term: Bullish for $SPX $NDX IWM. They should reach 9/2 high later next week. Pre-market $SPX $NDX IWM are gapping up big again. For today, the indices are forming these thrust counts.
Pre-market price actions currently tell us that $SPX $NDX IWM may tag yesterday's closing price before rising to form today's thrust. Earlier we had entered TQQQ Position2 in Signal Trades pre-market. We may add a TQQQ Position3 when price pulls back to tag yesterday's closing price. Updates 2:14 AM EST - Thursday 11/5/20 Summary Short Term: Bullish for $SPX $NDX IWM. They should reach 9/2 high later next week. Big Picture: Bullish at least until after $VIX $VXN finish consolidating. ... SUBSCRIBE now to read the rest of this post, including current analysis and projections for $SPX $NDX IWM. Get complete access to our intraday live Signal Trades. Take advantage of our introductory low rate of just $39/month. You can cancel anytime. Click here for our Signal Trades.
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