Disciple, I am getting the feeling that this market is going to continue up (on balance) into late November or early December. Zeev has a "local low" due November 12th but the rally off of that low ought to be explosive and there are an awful lot of nervous folks around and a lot of people shorting stocks and as they cover, that could provide extra fuel to the up move.
Some of the cycle work, that I do, indicates the trend is up into early December.
Several posters have mentioned a possible early Tax Loss selling season, so perhaps the "Theory of Contrary Opinion" will prevail and we will get a more traditional Tax Loss selling season into the days after Christmas.
We Will Know In The Fullness Of Time
Jim
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