First off, we don't do DST here in Hawaii, so it's easy to forget it exists... but some internal buzzer was apparently set and told me I'd better check this morning. God knows how I remembered that. Otherwise, the update would have been late.
Last update noted that the market seemed to have reached a tipping point, and while nothing happened on Friday, futures are suggesting that this morning is going to open lower, so if bulls can't recover directly, then the market may have room to run.
We're still tracking the flat below as an increasingly live option:
SPX closed in its inflection zone:
INDU is below support:
COMPQ, however, is somehow *above* support -- for now:
In conclusion, it looks like SPX will open lower... this is probably the last chance for bulls to pull a whipsaw. If they can't, then bears may take the wheel for a while. Trade safe.
p.s.- if anyone is asking, I would prefer we stay on STANDARD Time, not DST. We were just on Standard Time, which puts Hawaii 5 hours behind New York. DST puts us 6 hours behind. And no, Standard Time isn't what makes the days short -- Winter is what makes the days short. Here's what sunrise and sunset would look like during the summer (when the days are long) if we stayed on the actual time (Standard Time, which is determined by the sun being overhead at noon).
No comments:
Post a Comment