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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (53295)	10/28/2020 1:34:58 AM
From: Johnny Canuck	2 Recommendations Recommended By dealmakr Return to Sender Read Replies (1) \| Respond to of 69255

IBM breaking to new lowest short term after breaking $115 strong support. Expect some sort to short term bounce in the next day or two before the intermediate trend start to emerge: more selling or a new sideways pattern start to form. T re-testing the sub-27 dollar level after just testing it less that 2 weeks ago. This is near the low from April/May sell at all cost panic selling. Not a good sign given the over market still off the April/May lows. Watch for a break below the low from April/May as it will have institutional traders dumping position to avoid showing losses in what has been a tough year. Essentially year end reporting on the funds and tax loss session season coming up. Selling on CVX the last 2 days indicates traders are nervous because of the heavier than usual volumes. The current level is an important one to watch. Breaking this level leads to a minor support level around $63 and the the low from April/May of $51.50. If you bough the high from a few years ago you are now more than 50% underwater.

To: Johnny Canuck who wrote (53295)	10/28/2020 12:37:54 PM
From: robert b furman	Read Replies (2) \| Respond to of 69255

Hi Johnny, I went back and studied the run up to the 2016 election regarding the price action of the S&P ( I had forgotten how it happened). The 2016 election was on November 8th (always on a Tuesday). The market went down for 7 straight days (a 2.5% decline). It reversed up on monday, Nov 7th, the day before the election day(markets are closed on election day). That single day the market regained 2.2% and continued to rally into February the next year. The Trump Bump was very powerful. I'm hoping for a red wave runaway result on tuesday, and put a quick end to this uncertainty that has been injected into this election with unsolicited mail in ballots. Bob