This is an interesting article from STOCKCHARTS -- I disagree but.... we shall see

https://articles.sto...evels-to-watch/

Markets up on Sunday opening, will add hedge above ES 6660 

According to my turn risk summation system, every single cotton picking day this coming week has a relatively high turn risk summation value with peaks on Monday November 24th and Friday November 28th, so not much use.

Last week the Monday the 17th turn window saw a sharp acceleration down.  In hindsight I should have included last Thursday afternoon in the end of the week turn window since Thursday's summation signal was relatively high although not as high as Friday's, but I didn't, so that window missed the turn by a couple of hours and must be labelled a dud.

The green interior trend line which I showed in a post last week appears to have held the decline in the closing DJIA plot below.  The red, purple and blue interior trend lines show potential overhead resistance levels to the bounce currently underway.  A couple of which aren't too far away from last Friday's close. 

The Chandelier sell stop in red on the weekly close DJIA plot below which I also showed last week was not hit by last week's sell off.

And average bullish sentiment has now come down to a level that has corresponded to previous lows in the DJIA IF the bull market is still intact which only a new high will confirm is the case.

Finally, is it just me, or does this market seem to anyone else to be like a clueless bug flying merrily down a highway dodging one vehicle after another in search of the fait accompli car wind screen destined to smash it to bits.  I just have this eerie feeling that the market's incredible luck is going to run out in the not too distant future when it finally meets its window of destiny.  

Regards,

Douglas

eom

Mine are going off. They might be a couple days early. They also don't provide ANY immunity to volatility-induced vertigo. But, at this time of year, in a Bull Market, You gotta see things like the elevated relative VIX and the rest of the over-sold indicators, and know that you'd better pick your spot. 

Mark