Daily Archives: November 2, 2018

DJIA, Intraday Rally Update.

 

The DJIA finished on the upside last night, but this E-Mini contract sure reversed in a hurry.  I can work an expanded flat for last Octobers bottom but at the same time, I also dropped my degree level down by one. The long run-up sure looks like a good set of 5 waves, so we also may have finished at an “A” wave in Minute degree. In other words, we might only be a 3d of the way through this potential bear market rally. Most of this market rally was just the “Buy” stops getting hit right up to a big a previous high. The DJIA also ended with another spike to the upside and if this is still a bear market rally, then the markets will go back to creating lower lows.

I will keep the postings short today until I get a chance to review all the COT reports that come out every Friday.

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