No downside follow through from the post FED reversal so far. Breadth was +53%. New highs were 60. New lows increased to 130. Troublesome.
The futures are trapped between the 20 and 50 SMAs. Winding up for a big move?
The red count slipped a bit, but remains above the green line.
We got the down week that history said we should expect. It was not much of a down move though. Oct. is traditionally the most volatile month of the year. There has not been much volatility for months now. Will it stay that way?
Here is latest article from ECRI on the global economy. Apparently their long lead indexes have not turned up yet. Timing Is Everything: Liquidity Cut Amid Global Slowdown
That is one fizzy soda!
Have a great weekend.
Bob
No comments:
Post a Comment