Friday was an interesting day. Everyone was spooked the entire week. Last week was the anniversary of the 1987 crash. TV and Radio over and over kept on mentioning it. Therefore, any “spark” would ignite everyone to sell..
With the huge sell off Friday, there still was not much volume.
If we close below 133 by the end of Friday on the DJX then the sentiment has changed to bearish. Until then, we are in a weak bullish mode. October is typically a bad month where a pull back typically occurs.
Also, if anyone believes in the election year trends, they were trading from last September to this September(not predictive of future results). They are not trading this month. Trading will begin for them for November and December to complete the year.
This weak should be interesting………
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