The Cradle Will Fall
Tim Knight | Oct 28, 2020 03:47PM ET
Well, yeah, this is more like it. Too bad this kind of market couldn’t persist for, oh, 100 days in a row. It’s such a nice change.
SPDR S&P 500 (NYSE:SPY)
Of course, the darlings in D.C. are viewing this with a sweating brow, and their frantic buy-backs have probably already begun. We can see the diamonds rather near an important support level. Break this (on, say, Friday) and we get more fun.
SPDR® Dow Jones Industrial Average ETF Trust (NYSE:DIA)
However, the nauseating optimism that had begun to peal forth has been beaten back down, and patterns I had felt were lost to the winds of time have been unexpectedly resurrected.
iShares MSCI EAFE ETF (NYSE:EFA)
Miners have, as TNRevolution told us all, completely pooped the bed. This bearish pattern is quite complete now.
VanEck Vectors Gold Miners ETF (NYSE:GDX)
For me, the icing on the cake is SPDR® S&P Metals and Mining ETF (NYSE:XME), which has broken an important uptrend quite cleanly.
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This week has been fantastic so far. The one dog was my TUP short, but the profits from my 64 other positions has made it unimportant.
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