Shake

Market makes its first re-assessment of the Trump rally and takes some profits, right on a scheduled Echo high.
Probably just looking for a re-test of the breakout zone, but a deeper probe down to the 2170s also a possibility.

As I advised there were lots of good reasons for taking profits on Black Friday, and we may need a few days to re-charge before the rally continues.

Chart of S&P 500 for 29 November 2016

 

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational & entertainment purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

 

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