Chop, chop, chop... up and down and up and down we go, into the election to no mans land we roll. We are getting close now to some final high, and I still think it's around the election, but I don't know if it's going to be higher high or lower high. There's just no way to be sure if we get the 6100+ high around the election or if they save it for December after pulling back first.
So, I've just been watching the Nasdaq closely as it's super close to a new high and that could be all they want to do... just squeak out a higher high there, and then we can have a good pullback with my 533.01 FP on the SPY as my downside target in mid-late November.
As for today, I'll only point out that the end of "most" every month there is a "turn" in the market, and since we pulled back yesterday that "turn" should be up. So I'd be looking for a break to the upside to start soon and if it's a new high into the election that's just a better spot to short from. The 6100-6200 is the target zone, and if it's hit on this run higher and not the December one that's fine with me too.
Have a blessed day.
