SPY/QQQ Plan Your Trade For 12-3: Gap Reversal

Dec 3

Today's Gap Reversal pattern in a Counter-Trend mode suggests the SPY & QQQ will experience an opening price GAP - followed by a reversal of trend - possibly to the upside.

I believe we need to watch how the GAP forms at the open to determine if we are likely to see an upward or downward price trend throughout the rest of the day.

My analysis suggests an upside price move is more likely than a downward price move today for the SPY/QQQ.

Gold and Silver appear ready for a liftoff. Silver appears to be attempting to break above the recent high price levels and Gold should follow along.

I believe any Gold and Silver are poised for a big rally phase - but that rally will come when the US Dollar advance stalls and pulls downard a bit.

Bitcoin is still trending in a Flagging formation - setting up the Phase #2 of a Bullish Excess Phase Peak. We need to watch for a breakdown in price - possibly sending BTCUSD down to 80k-82k.

I urge traders to stay cautious (Still). This is not the time to be aggressive as I still believe the low liquidity in the markets will present a very real risk of a volatility event (the Anomaly Event I keep suggesting is likely).

Remember, if you can't take the lumps, stop and rethink what you are trying to trade.

Get some.

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