Where Are We Now?

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So far things are playing out in ways that we anticipated. This should make the trades easier to enter. Lets review the Monday action in the markets.

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SPX OCT 31 - Using cycle analyses, I have been expecting the SPX to drop into a trade-able low. The circled area was the expected target, a higher low and not an outright crash. 

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SPX - Nov 4th, This is a gravestone doji and quite often acts as a reversal candle after a sell off. Timing was correct and we were within that circled area.  We would look for a reversal.

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SPX Nov 7th -  Monday definitely saw a strong move out of the lows by all indexes.  The SPX broke above the 10sma and in the past, day 1 was not the end of it. I expect follow through and then a possible back test of the 10sma. We saw this in Februarys ICL and Junes ICL. 

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WEEKEND REPORT – CONFIDENCE

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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?

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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."

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Shopping For What?

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Fridays idea...

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