Sideways sidewinder. SPX, FXE

Posted on Nov 03, 2010 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p35413284069&a=207879904

It may be too early to say so, but it appears that the sideways drift in the major indices may qualify as a sidewave, thus replacing the anticipated downwave.  The muted reaction to the election results and to Fed announcements just confirms what we already knew -- that the election was totally discounted by the market.  Now it will have to find something else to discount.  Or some news excuse to break out of this narrow range.

This is only a preview. You must be a subscriber to access the full text of this letter.


 
Username
Password
 

 
Choose a Username*
   
Email *
   
First Name *
Last Name *
   
 
  * Required

Comments

You must be a subscriber to view and submit comments on this post.