According to my risk summation system, the days next week with the highest risk of a turn in or acceleration of the current trend are Wednesday November 3rd and Friday the 5th with the signal for Friday being the stronger of the two.
Last week the Wednesday risk window tagged the low for the week, but the Friday risk window appears to have been a dud targeting just an ordinary, garden variety day unless the DJIA turns down immediately Monday morning making Friday an important high. So being generous, it was at best a mixed week for the risk summation system.
The Joe Manchin, Joe Biden matchup is starting to remind me of the misadventures of the knights in the Monty Python and the Holy Grail movie. The underestimated cuddly rabbit mows down the tinned covered crusaders. The knights are no match for the fearsome Lepus.
For the FED to seriously taper, I suspect that they will want to see a large stimulus from Congress to give them cover. This week would appear to be pivotal on both the FED and Congressional fronts.
This week also contains a long cycle high risk window that I mentioned in previous posts, but unless something with the above noted Bills goes very pear shaped, it's hard to see how this risk window will amount to anything this time around.
Edited by Douglas, 30 October 2021 - 06:47 AM.