Short Term Outlook 11/22/2020
SPX has been playing a balancing act around February highs of 3390 as shown in the chart below. The 400 point box created by SPX (which is 11% SPX) since September has been holding so far. The short term risk/reward continues to favor downside given the market dump into close on Friday 11/20. However, the wedge isn’t broken still implying that some chop…