Looks like that huge GDP number have the market a shot in the arm. That number is superficial though. I might wait until tomorrow now. Unless something changes in the next 30 min.
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I will be waiting on tomorrow also watching Dead Cat Bounce area. If the news was so good we would have gotten above it. More traders watching Covid-19 wave growing in Europe to be followed in USA. I am slightly in Spidey Sense mode waiting for vaccine to be released for seniors. Check out Ira's Financial report posted by Nnutt: 55/45 bearish. Staying 100 G Fund::worried:
No move for me today. I never expected T 3 to be in play::eek:
I will redraw the Midterm Channel after the dust settles. Relocated the Dead Cat Bounce line for me. Spidey is going with the IDR line as resistance. He's still a little more bearish than me. What is the IDR line you ask? It's the line where the dip buyers were blocked twice by Intra-day Resistance.:worried: November Chart:
Going into November at 68 on the autotracker.
Little bit of good news: Today's gap was filled and dip buyers bought back in. Don't know if this is enough to get above the double top tomorrow but who wants to buy into election day.:blink:
Looks like I missed the Senate rocket ship::o