Supermoon

Technically a ‘perigee full moon’, the phenomenon occurs when a full moon coincides with the moon being the closest it gets to the Earth on its orbit – and 13-14 November 2016 full moon will be the biggest and brightest in 60 years.

So far the market is holding up and working off its overbought character, with a nice push back up into the weekend.

And looking for an Echo high to occur monday or tuesday.
After that, its possible we need to challenge the 55 ema in a more decisive way.

I have re-drawn the new T structure back one day centre-ing on the oscillator low (0) which was 2 days prior to the price low, and this would explain the sharp selloff from 2182 on thursday.

Chart of S&P500 for 14 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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