Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Wednesday, September 14, 2011

Wednesday Market Action

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

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