Market Update for Monday, November 20th, 2023

Good afternoon, traders.

Well my hopes for some rangebound conditions didn’t last long. We stayed rangebound only for a couple of days, but that turned out to be a consolidation before today’s possibly final, nearly parabolic squeeze.

In the process of that, we’ve produced a series of triangle-like structures, which is remarkable because we did exactly the same thing on the way down.


We did not produce very good bear flags on the way down, and now we’re not producing any good bulls flags on the way back up. Both moves were in too much of a hurry.

Another technical I can point out here is the we’ve arrived back at the early August gap:


And finally, we have all but reached this major trend line, too:


And that trend line, I still believe is part of the large structure I think is unfolding, which I discussed in the 4th chart of this article from last week.

This section has been reserved for members. Visit the Join page to learn more about becoming a member.

I hope everyone has a fine evening, and I hope the bears are hungry because I think they’re about to eat.

Parts of this article may be reserved for members. You may learn more about becoming a member on the Join page. There is also public and private content on my Discord server. The invite link is here.

One thought on “Market Update for Monday, November 20th, 2023”

Leave a Reply

Your email address will not be published. Required fields are marked *