SPY/QQQ Plan Your Trade For 11-11: Gap Potential In Trend Mode

11 Nov

Happy Veterans Day.

Thanks to all the current and past service members who have dedicated so much time and effort to protect all of us from the evil in the world. If you have anyone in your family that has served in the military, please take a moment to call and thank them for their service today.

As today is a Federal holiday, I expect the markets to be somewhat muted in terms of trends.

We are still seeing BTCUSD rally higher as the Trump win delivers a clear mandate related to global crypto/blockchain opportunities.

We are still dealing with a market in a post-election rally phase. I believe this rally phase will diminish over the next 5 to 7+ days and move into the early stages of my Anomaly phase.

My research suggests the US and global markets are likely to move into a consolidation phase before attempting to move into a very late phase Santa Rally.

So, at this point, with the SPY breaching 600 in pre-market trading, I would suggest traders start to PULL PROFITS and prepare for what I believe will be a moderate consolidation of price over the next 5-7+ trading days.

Gold and Silver are still FLAGGING in an inverted Excess Phase Peak pattern. This is currently a bearish price trend - attempting to break higher to move into a rally to Phase #3 (consolidation).

We could see some big price rotation today if Gold and Silver break above the FLAGGING trend.

Buckle up.

Get some.

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