01/12/2020 Archive newsletter

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Sunday, November 01, 2020

A brutal week for stocks last week as the market broke the uptrend up from March which I
noted on the S&P 500 chart last Monday and Wednesday. Leading stocks plunged hard and fast
on Friday with the selling accelerating well beyond expectations.

My one short sale on Wednesday night was Zoom Video (ZM) which was good for $50 as it
plunged hard in just two days, and many more stocks followed suit with massive losses of $3 to
as much as $174 as was the case with Amazon.com (AMZN).

The market looks poised to move still lower as it waits for the outcome of the highly
contentious presidential election that might go to the Supreme Court. Combine that with the
uncertainty of the surging COVID-19 case count and no new stimulus package to protect the
economy and it is anyone's call.

The market has made a monster move off the March lows and time for a correction and
therefore cash is my number one position for now. Let’s move on to two of the leading indexes.

TBA = Technical Buy Area

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Too oversold to consider new short positions now as a bounce could happen at these deeply
oversold levels on my short-term trading oscillator.

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Now let’s look at the Volatility index (VIX) which closed at 38 on Friday which is an extreme
reading.

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Let’s look at some leading stocks.

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Lastly let’s look at a few inverse ETF’s that are working higher with the market breaking down.

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I look forward to seeing you in the chat room Monday and then back here Monday night for an
update on our stocks.

Daniel J. Zanger

Copyright © 2020 Daniel J. Zanger

All rights reserved. Do not duplicate or redistribute in any form.

CHARTPATTERN.COMTM - Technical stock analyst and World Record Holder Dan

ZangerTM shares pro table strategies for trading the stock market in the The
Zanger ReportTM. The Zanger ReportTM is a nightly newsletter that features
breakouts, swing trading, breakout trading, technical stock chart analysis, stock
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tips, market research, hot stocks, and commented charts with highlighted
chartpatterns. Dan ZangerTM shares additional real time strategy plays daily in his
large chatroom.

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