Interestingly, the SPX came up to tag the 2992 palindrome for the HOD which is where the model flipped short on 9/18/19. Over the 2 week period, price went nowhere.
For hump day tomorrow, the banks are all that matter. Bulls must push the financials, XLF, above 27.54 (now at 27.41) to stop the stock market selloff. If the bulls fail, you will see retail stocks, chips and other sectors fall apart creating more downside for equities.
The ADP Employment Report hits in the morning and provides a heads-up for the Monthly Jobs Report on Friday morning. Perhaps insider traders, Wall Street is a corrupt cesspool, already know what is coming with the job and wage data?
The ADP Employment Report hits in the morning and provides a heads-up for the Monthly Jobs Report on Friday morning. Perhaps insider traders, Wall Street is a corrupt cesspool, already know what is coming with the job and wage data?
Watch the banks. If they are happy, the bulls will stage a comeback rally for stocks. If the banks are sad, watch retail stocks and semiconductors since they will likely next drag the stock market lower.
10/6/19;
7:00 PM EST =
10/4/19;
9:00 AM EST =
10/1/19;
12:23 PM EST = +26; signal line is +52
10/1/19;
10:05 AM EST = +42; signal line is +54
10/1/19;
9:51 AM EST = +56; signal line is +55 but algorithm remains short
9/30/19;
7:00 PM EST EOM EOQ3 = +42; signal line is +55
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