Elliott wave. Negative divergence. MACD bearish cross. I really hate to be bearish on the entire economy. I am just posting my observations. No current positions. Made some good money last week on SPY QQQ XLF XHB XBI puts. Another noteworthy sector to watch is the semiconductors. They have been a leading indicator of the overall market for a while. I would love to hear other thoughts and ideas particularly bullish arguments. To start the bulls could have support at the 20 month MA. I also believe Apples earnings report later next week will provide more guidance as to the medium to long term direction of the overall stock market. Also worth watching are the Asia major market indexes.
In my opinion we will know a lot more when we see where October's candlestick closes and even more with November's close. Once again no current position.
In my opinion we will know a lot more when we see where October's candlestick closes and even more with November's close. Once again no current position.