You are correct. There was huge disconnect in the market and my guess is todays move was just a dead cat bounce. Bonds rallied, yieds dropped, yet xlf and kbe traded up. Oil went down after initial pop,  yet XOM closed up. Summation index was -1311 compared to yesterdays -1265.  With the move today, I would have expected Summation Index to have turned more positive.  I would expect us to probably retest the lows we made last week and probably test SPX 200DMA. 

    Also notice Transports to Dow

    Posted by fibbtrader on 4th of Oct 2019 at 05:33 pm

    Also notice Transports to Dow jones All indicies are just 2 or 3% from all time highs but ITR trading close to Aug lows. Markets are very good at sucking people into it at the extremes. Make people buy at the top and short in the hole. 

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