Tuesday, October 30, 2007

Aloha From San Fransisco; Stock Market Ends The Week The Way It Started–Putting In Extremely Bullish Intraday Reversals To Close Near/At The HOD

The market continues to do the most bullish thing it can do by dipping intraday and closing near or at the HOD. The SP 500 was the winner of the best acting index this weekend with its gap open, move lower, and close very very very close to its HOD. The action of the market the past week just simply doesn’t get much more bullish.

Anything can happen in the stock market and all the greatest traders are prepared to act immediately to a changing market. But if the market reverse from this very bullish acting week, we can expect a large selloff as the moves this week in the market were very very very bullish. All the gap lowers and higher followed by some pretty large dips all led to the market putting in bullish reversals and moving higher. I just couldn’t have asked for anything more. I doubt we will get a repeat of this week, next week.

I am really busy and have been on the GO GO since arriving and right now is no different. So I must bid you farewell for today. I will see you Monday where it will probably be a small commentary but by Tuesday I will be fully back in the saddle.

ALOHA from SF!!

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