Professor’s Comments into the close October 31, 2019
Posted by professor at November 4th, 2019
After an initial decline that looked impulsive, the decline stopped and turned into more of an a-b-c affair. Because of where the decline is occurring, it could be a small wave 4 retracement within the larger up move, leg which means that one more rally toward the 27, 300+ level on the Dow could be in the cards. I’m always suspicious about declines that don’t have follow through when I’m expecting a Major decline to start. So because of this I’m going to remain on the sidelines before establishing any new short positions.
Not sure of the terminology we use? Check out these articles
The Hockey Stick Pattern
The Creation of Waves and Trends
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Category: Professor's Comments