Chop, Chop until we Drop! That's the mood the market seems to be in right now. It's frustrating both bulls and bears equally I think, but a move is coming and it should be to the downside. I don't think this market is ready yet for the last squeeze up to 6100+ until after the election, and if it gets delayed for weeks as the demoncrats try to fake enough votes then we might not get any real winners until late November.
I see it in the charts that the high should happen into Thanksgiving, which is at the end of next month. Between now and then I think we will see some wild swings but not really go anywhere. I don't see much lower the "maybe" 5700 and I don't see much high then "maybe" 6000, and I still think we see the downside target this month. I posted yesterday on Twitter a chart that I do think is possible. Here's that chart...
As you can see it suggests a move down early today and back up late today, and then a breakdown tomorrow after the Jobs Numbers. Maybe it plays out like that or drags out a little longer but technicals still suggest we will have a pullback before a strong rally to the upside target of 6100+. Nothing more to add.
Have a blessed day.
