Thursday, November 10, 2016

Stocks today

Stay Frosty, Panic cycle happens today!  This is also a turning point, and not a turning point on the Dow, so it's hard to predict todays events.

My current thinking is that it will turn down and then turn back up by the close.  I wouldn't try to pick the down turn, but if it does happen I'll be looking to go long.


UPDATE #1 10:30 ET - WOW!  That escalated quickly.  The panic on the SPX was true, as it took out the high and low of the previous day, and the Dow hasn't taken out the low, and I assume won't. 


So the challenge is finding an entry point. 


Today is NOT a turning point for the dow, so it should go up again tomorrow morning.  SPX does turn tomorrow, but I think that turn will be off the low formed today.  It could be now or near the close.


Minor update - Maybe the low is in, but in my (limited) experience it's usually in the afternoon, and it will probably stay mostly flat until then. 

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