Futures are bouncing this morning, so the market is at least respecting the inflection zone as being a real thing. Whether that bounce represents the start of the next leg up or not is still up in the air.
Interestingly, INDU also captured its casual "here's how it looks eyeballing it" target (from August 12), roughly to the point and almost to the hour:
In conclusion, the market has reached its first downside inflection, so if bulls want to run with it from here, they absolutely could. That said, the pattern could still support another low without any problems, so we'll see if the bounce becomes impulsive or not.
On a personal note, we are still without power and still have an energized power line lying across our driveway... so life isn't exactly back to normal here. I've decided it would be best to give my full attention to my family and step away from the market for an extended weekend -- so I'm going to take Friday and Monday off (including from trading, so the market's free to go wild!), and the updates will return on Wednesday. Many thanks for your understanding and support. Trade safe.
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