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Tuesday, November 6, 2018

Daily udpate 11/6

At least some things continue to work even though they are widely known.  The election day rally came off as planned.

SPX pushed higher and closed above the 20 SMA.  Breadth was +60%.  New highs increased to 51.  New lows were stable at 61.  SPX is creeping in on the 200 SMA. 

The futures are currently up from the 4 PM close.  They were down about10 points shortly after the polls started closing in the east.  While they have rebounded it is hard to say where they will be in the morning.

The green count continued higher to become more overbought.

On the night Trump got elected the futures went limit down when it looked like Trump would win.  However, by morning they were almost back to even.  The futures are up now, but that may change by morning.  It is still early.  We will just have to wait and see how the market reacts tomorrow.


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The information in this blog is provided for educational purposes only and is not to be construed as investment advice.