Recap Similar to Dow but weaker. S&P can only muster up 100& absolute range expansion. Closed the week above Y+2 and near week high.
Outlook Unusual circumstances implies uncertainty ahead. It is better to wait for a day or two to see if the reaction to BOJ’s actions is too much. If so a pullback is in order.
The expected bounce happened. And based on 3-day advance issues and Tick16 Short Term the rally will be over quickly if not already.
The divergence top on the 3-day advance issues ...
S&P 500 Nov 03 to Nov 07 Outlook
Lawrence’s Comment
Similar to Dow but weaker. S&P can only muster up 100& absolute range expansion. Closed the week above Y+2 and near week high.
Outlook
Unusual circumstances implies uncertainty ahead. It is better to wait for a day or two to see if the reaction to BOJ’s actions is too much. If so a pullback is in order.
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