Nov 8 – Outlook

I didn’t provide any update yesterday because the outlook on Nov 6 was still in effect. Indeed today the S&P 500 followed the green second push up route to head higher.

For tomorrow, the S&P 500 will try to test 1,285 mark before heading higher to retest the Oct 27 high. However, it will need to make a decisive break out at 1,285 for bears to give up their chance. Otherwise Rising Wedge will show its power. In such case, the pull back target would be 1,270.
My game plan for tomorrow is to watch S&P trend closely at 1,285; then depending on the strength of the rally, I will switch side to join the bears.

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