S&P Analysis Week of 11/08/2020: Post Election Madness MICRO E-MINI S&P 500 INDEX FUTURES (DEC 2020) CME_MINI:MESZ2020 XYZ-Trader- Who is the newly elected President of the United States? How does that impact the markets? As of this posting, we don't know who the elected U.S. President is. Even if a winner is declared, it is most likely going to be contested. This week there are many variables a. One important variable is the consolidation that price is making in a triangle wedge . We are currently at the top portion of the triangle wedge so price is in a critical spot. If price breaks out, we could easily get to and exceed all time highs. If price is rejected then you will see price pay a visit to the last broken resistance area area. This breakout area was heavy resistance and was never retested. Price WILL come back to this point at some time...when is anyone's guess. Price can take days, weeks, months or years to retest that area. My guess is that the retest will be sooner than later. I indicated three setups: Trade Setup 1 (long): The easiest would be a break above the triangle wedge because it's cleaner and easier to play. Trade Setup 2 (short): A rejection of the top of the triangle wedge . Trade Setup 3a (long): A bounce off of the broken resistance. This would satisfy the retest. However, if it does bounce this is not a preferred trade for me because of the overhead resistance. Price would have a lot of work to do to breakout above this area. Trade Setup 3b (short): This is a continuation of trade setup 2. If the breakout area fails, then price will continue most likely to the bottom of the consolidation triangle wedge . Note: The consolidation between the triangle wedge is energy and a lot is building up. Once the energy is released either in the northern or southern direction, there will be a big move. This is just for awareness in case that even happens during this week. Good luck and be careful. Remember: When it feels really right, it's probably wrong. And when it feels really wrong, it's probably right. Don't forget to support my analysis by hitting the like button