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The high window ended at the close on Friday and I’m leaning short into the end of October. Does this mean that SPX cannot make a new all time high in the next few days? No. Bears need to do some damage to support to open up the downside and the Friday low at triangle support wasn’t good enough. That is the key support that needs to be broken, as until that is broken, a triangle may well still be forming. The high so far today on SPX is not far away from triangle resistance. SPX 15min chart:
I’m going to say farewell to Detroit now (See ya!) and head to the airport. In the meantime, I leave you with this chart, which shows today’s ridiculous Crooks-Are-Awesome-For-President rally tagged the ES triangle perfectly
Welp, it sucks for me, but crude oil continues to zoom higher, which must be quite emboldening to the OPEC cartel. We now live in a world in which Gartman is right. What madness is this?
Unlike the first debate, I actually watched every minute of last night’s, although with some trepidation given the utterly tawdry turn this pathetic election has taken. It was, of course, awkward from moment one.
