Hello Everyone and happy Halloween!
Short-Term: In an uptrend since Oct 13th. Resistance 3900, and 4000 which is the 61.8% Fib, there's an open gap at 4100 from Sept 13th, then the 200 day MA and downtrend line connecting all the lower highs for the year. The 'bulls' have the football. There are multiple possibilities to this corrective move, such as a triple zig zag that Steve showed on the weekend, or this move up being wave A, then a wave B pullback higher low, then C up.
News Items
: Earnings Season, ISM on Tuesday, FOMC on Wednesday, ISM on Thursday, and of course Jobs Report on Friday
Bonds/Rates: TLT 20-year bonds pulled back -1.75% (10-Year Up)
Currencies: The US Dollar up nicely today inside the channel we drew, possible abc correction completed
Reversion-to-the-mean systems: SPY QE BTS is in a 3rd entry short, while the Hi Mid Lo is in a second entry short.
KISS Long Only Trend Systems: Daily KISS went long last week. Fast intra day time frames, 130 min and 65 min, went long Oct 13th with tight DVT stops at 3775 and 3800 respectively
Matt
