Blog Section

October 31

On both Monday and Tuesday last week, the ES tried to break the 2150 level and failed. The big market was over 2150 both days though. The market basically declined all week in the same narrow range it has been in since September 9. The “surprise” announcement on Friday at one PM had the market retest and then recover in the same narrow range. Although there will probably be some volatility this week, I suspect it will be within the same narrow range, overall. I still feel this narrow trading is preparation for a larger move after the election and into next year. We are still leaning toward a bull market, however it will most likely be be tenuous and erratic at best.

es-weekly-oct-31