I could have written this after the market close yesterday,
written it in my sleep if I had to,
yet decided to wait for confirmation this morning.
The Monthly successful retest of September High at 3021.99 Support
on 10/31/19 and the close at S+P 3037 technically confirmed the Bullish Breakout in October.
With this mornings strong upside gap breakout to 3050, a bullish confirmation signal is in now in place.
Bears who seemed to come out of the woods in large numbers yesterday
very confident, and boisterous at times found once again..
that this historic 11 Year Bull Market simply gave them only enough downside for a successful bullish pattern retest.
There is no other way to put this.
As frustrating as this might be to the bears,
the market continues to hold very important support at crucial times
and then continues to advance climbing a wall of worry every step of the way.
Bears on the S+P should continue to watch for a break of support at S+P 3021.99
Until then, it is best to avoid the short side of the market if you can.
Trend remains steadfastly bullish, until proven otherwise.
SPX Last 3061.40
THE_UNWIND
11/1/19
NEW YORK
written it in my sleep if I had to,
yet decided to wait for confirmation this morning.
The Monthly successful retest of September High at 3021.99 Support
on 10/31/19 and the close at S+P 3037 technically confirmed the Bullish Breakout in October.
With this mornings strong upside gap breakout to 3050, a bullish confirmation signal is in now in place.
Bears who seemed to come out of the woods in large numbers yesterday
very confident, and boisterous at times found once again..
that this historic 11 Year Bull Market simply gave them only enough downside for a successful bullish pattern retest.
There is no other way to put this.
As frustrating as this might be to the bears,
the market continues to hold very important support at crucial times
and then continues to advance climbing a wall of worry every step of the way.
Bears on the S+P should continue to watch for a break of support at S+P 3021.99
Until then, it is best to avoid the short side of the market if you can.
Trend remains steadfastly bullish, until proven otherwise.
SPX Last 3061.40
THE_UNWIND
11/1/19
NEW YORK