October powerful rally peaked on 10/27 with NAZ, DJI, SPX nicely trading above their 200 D-SMA's and DJT, RUT testing theirs. Then Market sold off and all five major indices closed below their 200 D-SMA's and traded there for a few days. What's happening now is a retest of Market's 200 D-SMA (all five major indices collectively) and it is critical that Market closes above its 200 D-SMA and continues to trade there. NAZ and DJI closed above their 200 D-SMA's yesterday. We need to see the remaining three flow suit by early or mid next week (next Friday at the latest) or the bull run would be in trouble. I am optimistic and believe we see that within the next couple of trading days (even as early as today).
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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.
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