I'm calculating the 5-minute, 370-unit EMA at the latest decline of DJI through it. 11,119 - 1.35% is 10,968 critical support. This will allow the market to fluctuate around 11,000 round-number support.
Amazing how the market times itself to finish up waves when important news hits, so the talking heads can blame the turn on the news!
Looks to me like the market will dilly dally its way thru this 5th wave of the ED until either election day or Fedspeak on Wednesday. So next Tuesday or Wednesday ought to bring some significant action.
I hope we complete the diagonal by the Fed announcement. It would be nice to see an immediate sell-off on that. Disconnect between the dollar and stocks or will the dollar crater in line with DJI?
Amazing how the market times itself to finish up waves when important news hits, so the talking heads can blame the turn on the news!
ReplyDeleteLooks to me like the market will dilly dally its way thru this 5th wave of the ED until either election day or Fedspeak on Wednesday. So next Tuesday or Wednesday ought to bring some significant action.
I hope we complete the diagonal by the Fed announcement. It would be nice to see an immediate sell-off on that. Disconnect between the dollar and stocks or will the dollar crater in line with DJI?
ReplyDelete