SPY/QQQ Plan Your Trade For 12-05 : Harami-Inside Day

6 дек.

Today's pattern suggests the SPY/QQQ will stay rather flat and likely close within yesterday's body range.

I'm not expecting a lot of price action today - although we could see a high/low range outside of yesterday's body range.

Gold and Silver are struggling to find support and rally from recent lows. The US Dollar's move back below 106 is positive for metals. But I urge traders to stay very cautious until they see a clear bullish breakaway pattern in metals.

I've been trying to tell everyone for 3+ weeks that the markets typically go a bit WONKY after a big election process. This year, Trump's victory was a big surprise for many, and I'm confident traders are attempting to avoid risks by staying away from making big moves before the end of the year.

Bitcoin fell back below 100k again and I believe BTCUSD could be setting up a very large Excess Phase Peak pattern. If I'm correct, we may see Bitcoin fall to 82K (possibly 72k) as the EPP pattern continues.

It is very early in this EPP price structure, but ultimately, the EPP either continues to play out or invalidates. So, one way or another, we will either see a move down to 82K (or below) or a rally move breaking above the 103k highs.

Again, I expect a very flat day for the SPY/QQQ. Stay safe.

Get some.

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