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Let's jump into these charts.We see everything is up right now.I'm doing this a little bit early, I gotta get on the road, Still got about another 58 minutes or so for the day.
And remember, even though it's Veterans Day, stock market is open, bond markets are closed.But let's jump into these charts.Everything up for the day but gold.And that gives us some options here.Let's look first at the S&P 500.
course we had the interim down move last week right there at average volume this week a green spinning top and we can see we have above average volume as we look at the two-day chart this is the first day of the latest two-day candle it's an up candle not a lot of volume not a lot of volume on Friday
you can see where we had average volume yesterday afternoon on Thursday but on Friday volume decreasing in the morning even further down in the afternoon right now up about half a percent on the S&P 500.
Now does this mean that you could get into a long position with the interim short Not our typical, I'm sorry, the interim bottom that we saw happen here last week.
Not our typical move where we have a nice strong move, then we get a bottom, then we get a green spinning top, and things roll over and move up nicely.Well, this is a bit sketchy, but we did have an election, right? So, what are we looking at here?
Well, all of this could dissipate and completely blow it out.However, we do have a lot of enthusiasm in the market.It has been quite exuberant in the last couple of days.But again, you could take a long position here.
and again attempt to ride that again using your two-day ATR to help you set your profit and loss bands and sell half your trade when you hit one time the ATR going up and of course if it goes in the wrong direction you pull out
at one time ATR for your loss ban.Now that's a possible, again, potential practice trade.We're not a stock calling service.We're an education firm.We want you to practice with us.We're not giving real market advice.We don't do that.
We want to get paid to do that.We don't give that kind of advice, but we do want you to practice trade to learn by doing. And again, that's a possibility here.Now when we look at the cues, what do we see there?Again, we see diminishing volume.
Doesn't make us feel super good.Low volume on Friday.And of course, we've seen things punch up above the prior high and now we're back below it.But of course, as we look at where we are, we're high, high, high.
in the afternoon after all the exuberance starting on Wednesday through Thursday slowing down some on Friday but again we we didn't really have I wouldn't call that much of an interim low it was a green doji with higher than average well right at average volume this week just barely higher than average so
you could potentially go long on both the S&P and the NASDAQ 100.
S&P does have a red spinning top as opposed to a green doji here on the NASDAQ 100 and again we have the potential for a ceiling here but again both of those may run up further next week
if you lock in your loss bands and you pay attention to those you can minimize any potential downside and of course you can take advantage of the upside now pay attention there those are two possible trades for you to make what about
practice trades for you to make what about where we are on TLT well this is indeed interesting too isn't it we have things have moved down quite nicely we can see where the two-day chart for the second time but even more so has penetrated up through the weekly trend line the half day has done so both in the morning and the afternoon lots of volume in the morning not so much in the afternoon
so again we'll be pacing playing close attention this next week to see what if we get a green spinning top with high volume going in the opposite direction that for sure would pull us out of this down trade now could you pull out now you could you could have pulled out
back on the Monday Tuesday that is the 4th and 5th of November but you of course would have missed this great recent down move we had here so as we in the week possibilities here to shaping up you could injure trade on the down move and you could wait to see if 20-year bonds are going to rotate back over during the course of this next week and go up
that again would be the opposite of what we hope the market will do so and because they've been moving again inversely bonds have been going down as the market's been going up if the market continues to go up wouldn't we think bonds would continue to go down it's probably not going to play the same way so that is another thing
to pay close attention to if indeed you're thinking about pulling your bond move you might wait a little bit longer see how this next week shapes up now what about gold gold we can see again classic sign this one is clean we see that we have
a higher high the interim high with average volume this week red spinning top clearly below the weekly trend line we have higher than average volume this is one of those clean turnarounds now does it mean it will work going short gold not necessarily but again the odds are in your favor what about silver we've talked about silver i'll show you you can see where silver same thing
really dropped over going down now we would prefer a spinning top to get into a move we don't have one here gold seems to be the cleaner rotation over so watch that potentially short gold if you're of course a patreon member then hopefully you've taken the three-part series options made simple the charting wealth way so you can look at potentially entering to a practice options trade a put
on gold going down that's a possibility if you're not a patreon member think about becoming one for that reason to get that training now what do we see on hodl it is up for the day 0.77 we have seen bitcoin really after the election slam up on wednesday morning and afternoon and again just continue to push itself up
record high reached this week look at all this volume Bitcoin just continuing to move up to higher highs and of course Trump has signaled his support of Bitcoin that probably helped a lot with the was it the DeVos twins that were that wrote big checks and supported Trump and feel good about him so again
Bitcoin seems to be positive on the Trump administration that is where we are folks lots of decisions for you to make things for you to practice trade and look into this next week like I said even though it's Veterans Day a lot of businesses federal government be closed some state governments that is Monday but the market will be open the stock market bond market closed
That's where we are, folks.We so appreciate you being with us.Always love to hear from you.CW at chartingwealth.com.God bless my friends.All the best from the whole team at Charting Wealth World Headquarters.
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