It’s always a good morning to see equity bulls get torched. We’re only an hour into the day, but so far, so good – – -the only good bull is a disappointed one, so watching the ES plunge from a huge green open to slipping swiftly puts a smile on my face and a stride in my step. I won’t be fully happy until the Dow is at 6,000 again. Bring on the red, Fred.
Anyway, it won’t really matter until and unless the ES breaks 2100. It’s as simple as that. We’ve broken the key trendline weeks ago, which is great, but as it is now, the Powers That Be are trying desperately to prop things up for President Wide Load, so we probably won’t see real price discovery until she wins on November 8th.
