Our Gap year continues.
The NYMO cycle is up.
We are now up to ten downside gaps again.
It seems lately when it gets to be that many, a move is on deck to close a few of them.
We shall see.
Looking at the NYMO, a corrective move down to the zero line would be fair in the not too distant future.
So, if price goes to test the middle keltner/50 day MA in the days ahead, maybe after OPEX, it would not surprise.
All that said, October's reputation as the bear killer looks like it will remain intact.
How about closure of that last up gap target on Halloween?
As usual, I have no idea what will happen.
I am long SPX and R2K.
The SPX position is down to a runner with a BE stop.
I am looking to scale out a risk unit of the R2K position.