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Market Top on 9th Nov 2020
We could be entering into the worst bear market of our generation
I am not an American, but I rejoice with the world when Joe Biden was elected. Like many others, I kept refreshing on the counts and why Nevada’s wasn’t moving. On 9th Nov 2020, Monday, when it was confirmed that Trump had lost the White House, the market cheered and moved up in a straight line.
Then it moved down in almost the same fashion.
As a market participant and having worked as a professional trader in a macro hedge fund and proprietary trading firm, I am calling for 9th Nov 2020 to be the ultimate market top, a end of the 13 years bull market since 2008. And I will give you my analyses here.
Technicals
Elliott Waves
Elliott Waves is not a well-known technique when it comes to Technical Analysis, in fact, many who haven’t study it in-depth have criticize it. In order for you to appreciate this analysis, I have to give a brief summary (as brief as I can): it is a technique to plot out herding behaviours of market participants using Fibonacci ratios and numbers and the fractal nature found in the world.
Here, I will show you the S&P futures chart (ES1!) and my analysis.
