The usual geniuses have attributed last week’s stock-market stall to growing fears that the Democrats could sweep in November. Any sentient adult watching the news, however, or video footage of Biden’s dismal public appearances, understands why these fears are unfounded. Even so, they held sway over traders for most of the week, preventing the E-Mini S&Ps from reaching a 3571.50 target that should have been a lay-up. Bears could claim no great success either, however, and that’s why we should stick with the target as the new week begins. Moreover, you can buy a pullback to p=3384.75 ‘mechanically’, using a stop-loss at 3322.50. An rABC or ‘camouflage’ set-up should be used to pare the entry risk down to perhaps a tenth of that. ______ UPDATE (Oct 20, 5:20 p.m.): We’ll back away for now, since the shallow stall just shy of early September’s record-high is just courting anxiety.
ESZ20 – December E-Mini S&P (Last:3428.00)