BRIEF BROAD STOCK MARKET UPDATE (3:45 pm EDT)
The DOW broke 17,000 around 3:00 pm EDT and may close the day above it. While this is our general stop loss area, I am going to stay with my short position in the broad stock market for now as we are in the dead center of a strong reversal zone and we still have a case of bearish intermarket divergence (the S&P 500 and NASDAQ have still not broken through their mid-September highs). Also, we need to allow a wider margin of error around support and resistance lines right now because the markets are so volatile.
Holding my short position in the broad stock market.
The DOW broke 17,000 around 3:00 pm EDT and may close the day above it. While this is our general stop loss area, I am going to stay with my short position in the broad stock market for now as we are in the dead center of a strong reversal zone and we still have a case of bearish intermarket divergence (the S&P 500 and NASDAQ have still not broken through their mid-September highs). Also, we need to allow a wider margin of error around support and resistance lines right now because the markets are so volatile.
Holding my short position in the broad stock market.
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