My internal indicators are telling me theres moreof today still coming
I had mentioned a negative bias thru the 6th after the fed rate cut.
Today;s ARMS index was only 2.80, not a romping 5.00 or more.
My Propietary volume and Adv deline index is at 786, and 1129; leaving PLENTY of ROOM to get under 400, where those levels have NEVER failed to indicate a rally.
and the 5 day arms is only at 6.26, and no where near enuf to scream BUY.
The futures did close down substantialy
today's bar hits were right on target126 at the open = 10am
180 at 2pm
204 at the close
Tomorrow's bar hits
259 at 2pm
might be the low of the day
There seems to be an 8.6 day cycle in play which did occur at 3pm on WEd
the next 8.6 trade cycle = Nov 13, my Bday, hmmm.
Somtimes cycle shift, and if it extends to the 16th, it could become a 10 day or 68 hr cyle which ive tracked b4 from time to time.
Since the 16th is OPTIONS, and there are no negative influences to stop it, it might just do that.
Jay
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