The final trading week of October showed that once again we are trading in a bull market as the NA indices navigated the volatility from Wednesday’s FOMC announcement as well as earnings reports from AAPL, FB, and GOOG culminating in a record all-time high close on Friday for the SPY and QQQ.
With the month of October now behind us, in this week’s video, I make the case why we are unlikely to see the Q4 meltdown we had in 2018. Hint – it has to do with market structure and timing.
As a further resource, I mention another video where I do a deep examination of price and time of some of history’s major market reversals and you can find that video here.
Bitcoin and Ethereum spent most of the week consolidating the recent gains and this coming week we’ll want to keep a careful eye on how this inside week breaks as this will very likely be a great trading opportunity.
Watch this week’s Weekly Outlook video to see the setups and levels we’ll be watching.
In this week’s video, we look at the technical outlook for the VXX SPY QQQ IWM DIA EEM TSX TLT GLD SLV BTCUSD ETHUSD EEM and more for the week of Weekly Market Outlook For – November 4 – 8, 2019.
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