Sorry I was unable to offer comments the past few days. Things happen in life that require you drop everything and deal with them. Reviewing the news the past few days it seems the news out of Europe is about as good as can be expected. Also, earning reports will start to wind down as we get into November. So I wonder what will drive the market the next few weeks. Seems to me it is about as good as we can expect at this time.
Looking at the data I would opine the longer swing cycles have been dominant in the market in October. I believe I mentioned the 34TD cycle should top this week. With the open today we well could be setting a top now. We will see.
Here is the SPX with my interpretation of the cycles:
Gl traders. My long positions are largely offsetting my "wrong" short positions. Not a way to make money, but it protects you when your analysis fails you. So - do your own analysis because I guarantee there will be times I fail to properly interpret the data.
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