From now through Spring, I'll have rehearsals on Mondays and Wednesdays, and won't have much time for evening posts. I might not make market commentary on those days. We'll have to see how that goes. But today was a big move, and though it's not over, I am posting a chart.
The open gap has been filled, as I sort of expected. Next resistance is around 1205. This move looks pretty strong, so it might make it that far. I don't have time to figure out what's going on with the wave count. We'll catch up with that by the end of the week.
UPDATE: The DJI finished up 1.27%, the SP500 up 1.35%, and the NASDAQ up 1.45% on the day. Note the gains are inverse to blue-chippiness. Not a good sign..b
Tuesday, November 5, 2024 Michael Hobin
16 hours ago
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