Thursday Update: It Was The Best Of Times...


..Not. Everything is still within the confines of an orthodox bear market retracement. The steeper the rise, the harder the fall and it's beginning to look like the run will last until the election next week. 

No new trades for Friday. We are getting close to where new signals are likely to start being generated. 

S&P 500 Daily Chart


This is an IntermediateTerm Daily bar chart dating back to the 2016 lows. It seems to be in control of the entire retracement the first leg down of the new bear market. It has reached the first Fibonacci retracement of 38.2% It is possible to reach the 50% level around 2775, but extremely unlikely due to such high bullish sentiment readings. A November 6th top would be icing on the cake of retracement, and as a precursor of Wave 3 of 3 down.