Tuesday Update: Something Else To Worry About


As far away as those October 29th lows in the Dow, S&P and NYSE seemed a week ago, today those indexes are close enough to be knocking on those doors. The "Black Friday Massacre" thesis is now being challenged by the G-20 meeting on Nov 30 - December 1 in Buenos Aires, Argentina. Buenos Aires is two hours ahead of EST, which sets up Friday November 30 and Monday December 3 as potential wild rides on Wall Street, as it increasing appears that the market is in a Wave 3 of 3, the most powerful leg in a 5 leg impulse wave according to the Elliott Wave Principle. So far, the EW pattern has been right on:



I've added the "Best Options Date" in the last column to the right. It's simply the date on which the option traded at its best level.