Posted on 10/18
"All that being said, I offer the following about
the coming week.
After three days of trend change warnings and a
Near Impulse Date of 10/14 for all, the stock indexes reversed on Friday
although only the NASDAQ and Russell closed below Thursday lows, confirming
the reversal. Generally we can expect a three - four day persistence in trend
following the reversal. For Monday I generated 36 sell signals for the
NAZ 100 and only 6 buy signals supporting expectations of a lower low.My next
Near Impulse date shared by all indexes is 10/27 so we may expect a
downward continuation until then. We shall see."
Today is the Near Impulse date for all stock indexes. I expect the lows
of this move today.
So far the Russell has been the weakest but could find support at
585.
The other indexes are at mid-channel and if they reverse here it will be
bullish longer term.
I have no buy signals yet however.
Jim White
Pivot Research & Trading
Co.
PivotTrader.com