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Welcome to the weekend report. It is another long report with roughly 30 charts, to build up your confidence. So grab your coffee and lets get right to the charts!
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SPX - I have been expecting this dip and my target area shown here has been met. Do we see signs of a bottom?
SPX - Yes, this is a gravestone doji sitting on the 200sma. This could be the dcl, because the ' cycle-timing' is right. We wait for a swing low and confirmation before entering, since it can drop below the 200sma as a shake out. Look at the selling here, 9 straight days of red high volume. THAT will change sentiment from Bullish to " I dont want to be long". We may get post election rally no matter who wins, and everyone will then say , " SO & SO won, and that was good news to the markets."
Read MoreFridays idea...
Read MoreWe go into a Fed Day knowing that there will be volatility. It doesn't matter what my expectations are longterm, the short term volatility can be difficult for many. That's why I wrote this on Wednesday morning before the Fed release when asked about Gold ( and miners)...
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