The rally started by mid October has been something to wonder. I congratulate everyone who has taken action and closed their shorts or even went long. Having said that, I reckon even the wildest, strongest bulls could not have imagined this rally to go this far. Most of us were waiting for a bounce from the oversold levels but not this. So do not give too much credit to the "I told you so" bulls.They were all shitting their pants during the first half of October.
My best guess ...SPX tags 1940 by Tuesday RTH... Then markets sell off late Tuesday night ( post election results/sell the news..unless of course Obama and TPTB want markets to rally after Republicans take back control of the Senate?)...SPX finds support near your support at 1970 and next leg of rally begins....
ReplyDeleteCorrection to previous post...I meant SPX 2040 instead of 1940
ReplyDelete2040 is entirely possible John but some brief correction is overdue now so I would wait for a pull back to get in.
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