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Strategies & Market Trends : TRIPLE TRADES
OPEN 6.550-9.4%Nov 6 3:59 PM EST
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To: Bull RidaH who wrote (3597)12/9/2023 5:26:04 PM
From: Bull RidaH  Read Replies (1) of 4396
 
SPX - Price did indeed immediately rise above 4558, and we were spared the plunge to 4500. The index had risen back above the midline inside the original channel, and as almost always happens in a long enduring channel, a SECOND channel (drawn with orange lines) has become apparent. I give a little forecast for Monday based on the need for a 50 point decline to allow those contract rollover guys a chance to buy back in in at a nice discount, which they especially need now considering the current steep premium to cash due to higher rates.

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