This is an early preview of our Friday Into The Close, due out about an hour before today's close. For this PRO Service, we will continue to sit on our trading ideas until more clarity is perceived as to which of the two directional resolutions is playing out. In either case, there is plenty of time to get on board. Into The Close: Fake-Out, or Wave 3 of 3 Higher" The subject of above says it all. I will spend some of the upcoming weekend preparing for either scenario, including key levels which will clearly identify which outcome is most likely. If its a fake-out, we are looking at a significant decline into and maybe lasting well past Thanksgiving weekend. If the latter, a handful of stocks will lead the next leg up and we will be nibbling on calls as soon as early next week. For now, Thursday closing price levels in all indices should not be seen again and if any of them are, assume today's CPI gap was the shorting opportunity of the year. Nasdaq 100 (NDX) Not to get too cute with EW labeling, but this is a classic ending 5th Wave diagonal and if so, it suggests a deep dive in the days ahead. Taking out today's highs would suggest something more bullish is going on, while falling back below today's gap-up Open would suggest the opposite.
