Yesterday’s high in the DJZ was 13,530.Today’s low is 200pts lower. Sadly, i havd 13,550 and 13600 as resting sell orders. They never got hit.
It is interesting that 13,450 to 13,600—– a narrow 150 pt range, has been the Maginot line since September 11th.
This is starting to look like the Dow wants to roll over here.
I’d sell into rallies, all the time with my eyes at the 13,600 level as the price level to pull the rip cord on the parachute.
I am not sure what the next 3 weeks have in mind, but I’d be very suspect of any rallies in stock indexes. Be patient and let market come to you.
After the election, there will be a move, bullish or bearish, which will present itself.
Til then sit tight and play from the sell side.
Have a great weekend.
I am heading home early.
CER