You keep going without one precise direction but the day of November 6 perhaps gave some bullish indications. At this point the question to ask is whether the stock markets are ready for a bullish rally or is it yet another false signal? The answer is not simple. If you look at the situation, Joe Biden’s victory was not accepted by Trump and this could lead to conflicts between the various powers of the American establishment. What will the markets do? Will they start up looking further or will they stop to observe the post-election “contingent” developments and any conflicts over the elections?
The trading closures on November 6 were as follows:
Dax Future
Eurostoxx Future
3.199
Ftse Mib Future
19.655
S&P 500
3.509,44
Let’s proceed step by step and analyze the data to keep the pulse of the situation.
The annual fractal points to the upside
Bullish direction is projected for another couple of weeks before leaving room for a decline of at least 4 months, until February.
In blue the chart of the world stock exchanges until the close of November 6th.
Our annual forecast for 2020 is in red
What are the levels that will keep the trend up? Which ones, on the other hand, will bring the prices down again?
Are the stock markets ready for a bullish rally or is this yet another false signal?
Dax Future
Bullish directionality only with a close on November 13 above 12,566. Rebound in progress and new sales only with daily close of November 9 below 12,245.
Eurostoxx Future
New bearish directionality only with a November 13 close below 2.947. New sales of very short only with daily closing on November 9 below 3,137.
Ftse Mib Future
New bearish directionality only with a November 13 close below 17,750. New sales of very short only with daily closing on November 9 below 19,440.
S&P 500
New bearish directionality only with a November 13 close below 3.279. New sales of very short only with daily closing on November 9 below 3,485.
We will proceed step by step and day by day we will understand what the next move of the markets could be.
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