The SPX daily chart looks the same almost everyday. The biggest change is the modification of wave iii of wave 3, originally I was thinking a much more violent one. Anyway I just keep reading them and see how it evolves.
SPX daily: if we don't consider the internal structure of the pullback, now it has reached a level where it can gracefully reverse (the yellow horizontal line was drawn yesterday of course). If it does reverse tomorrow then 1070+ is a perfect target of this wave iv of wave 3.
One more SPX chart:
USD/JPY: more range bounding. Pay attention to the intraday chart of USD/JPY.
TED spread: it looks quite healthy, so the selling-off isn't that bearish compared with October one. Personally I am not pessimistic just because of the election -- look at this chart.
SKF: It has reached an important level -- see the daily chart. At the same time, it is not ok to short it because it can reach higher, and then it will be a short -- 60-min chart.
More charts...
INDU 60-min: reached Fib 61.8%, bottom-fishing...don't know if that's smart money or dumb money. The chart doesn't look like the selling off is going to stop here. It should consolidate a while first.
In the very short term (15-min charts), today's selling-off is questionable and a bounce might be coming -- check out the ultrashort ETF's.
Of course the 60-min charts look not so encouraging and one should not against the trend, i.e., it is okay to lock the profit but unsafe to catch the falling knife.
For me, the most important thing is: we are in wave iv of 3.
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