November 13th Early Morning Thoughts

In the evening, a big drop occurred, with a slight rebound after 3 PM, and starting from 5 PM, there was a continuous significant decline. We mentioned in the afternoon thoughts that there would be a large retracement (can be found on the homepage in the image below).

Currently, the Nasdaq is consolidating at a high level, still in a bullish trend. The strength of ETF buying and selling also depends on the Nasdaq; if the Nasdaq plunges, the ETF will also see reduced volume. Tonight's ETF is crucial; currently, the exchange is crashing and clearing contracts. If Wall Street can ignore the exchange's crash, the Trump trade is still on. If the ETF shows a significant decrease in volume, it indicates that Wall Street's confidence in the market outlook has been shaken due to the rising prices, leading to a fear of heights.

It is recommended to go long near 86,000 for a target of 88,000.