Today is the 5th of November and nothing has been blown up, so it's a non-event for this year. Therefore it's back to the technicals and they are getting short term oversold and suggesting a bounce is coming, but not a new high. The bounce could last into next Monday and will probably be a B wave of some degree and the current pullback would be the A wave.
Then a C down into next Wednesday or Thursday should finish the correction, which will probably hit the rising white trendline on my chart that is in the mid-6600's now. No crash basically. It's been avoided at this point and after the coming ABC finishes next week it's off to the races on the upside again. On a side note I found this interesting video yesterday about liquidity in the market and how they injected a massive amount of QE into the market last Friday, which explains how they are currently holding it up and preventing the crash now. That video is below.
Have an blessed day.
