11/4/12; 7:00 PM EST =
11/2/12; 9:00 AM EST = +1; signal line is +22
11/1/12; 10:00 AM EST = +1; signal line is +23
Note Added on 11/2/12 at 11:27 AM: The opening move turned out to be more sizzle than fizzle. SOX tested 380 then fell, now printing 376. VIX dropped to 16 but bounced and is now printing 17. GTX fell under 4800 liking the bear camp. So the bears stopped the bull rally, for now. The RTH is at 44.80 remaining well above the 44.44 so the bears are not making any headway lower. Markets are in a standoff. The caution flag will remain out since these markets can turn on a dime. For now, sideways is the move, perhaps into the Tuesday elections. Bears contniue to drive the bus.
Note Added on 11/2/12 at 11:27 AM: The opening move turned out to be more sizzle than fizzle. SOX tested 380 then fell, now printing 376. VIX dropped to 16 but bounced and is now printing 17. GTX fell under 4800 liking the bear camp. So the bears stopped the bull rally, for now. The RTH is at 44.80 remaining well above the 44.44 so the bears are not making any headway lower. Markets are in a standoff. The caution flag will remain out since these markets can turn on a dime. For now, sideways is the move, perhaps into the Tuesday elections. Bears contniue to drive the bus.
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