WALL STREET CRAPS STOCK MARKET STRATEGY NOVEMBER 15, 2020
STOCK MARKET STRATEGY FOR NOVEMBER 14, 2020: The stock market rallied strongly Post-Election last week with shorts getting squeezed and a radical rotation into low-performing basic industry stocks. But what happens from here is anyone’s guess. One thing seems certain: high volatility can be expected in these next couple of months and with that come trading opportunities for disciplined, clear-thinking swing traders.
Key underlying short-term timing indicators show the following:
- NYSE McClellan Oscillator – Ultimate Indicator – 59 (neutral)
- Nasdaq McClellan Oscillator – Ultimate Indicator – 60 (neutral)
- Volatility Indicator – Ultimate Indicator – 69 (neutral)
- NYSE Advance/Decline Oscillator – Ultimate Indicator – 68 (neutral)
***********
Short-Term Swing Trading Strategy: The market may be heading towards a 27-day cycle high for Wednesday November 18th. The next low would then be projected to Wednesday December 9th which is a 27-day cycle low. If the technicals match up well with this scenario, I’d be looking to make some trading moves to match the rhythm of the market.