November 7, 2020
Last week’s rally cleared the decks, producing online forecasts of another 50% advance for OTC
Last week’s rally cleared out CT’s hedge ETFs (short) across the board. The S-T cycles made a low around Holloween and the I-T trends crossed over a bullish combination. For whatever reason the media is spinning, the post-election rally crushed the volatility index, at least in the short term, and holding the higher March/April 2020 levels. But what it did not do is take out the ATH posted on 9/2/20 and the secondary high posted on 10/12/20 held thus keeping the bearish outlook in place, in the face of the bulls reaching for new highs on the weekly bar.