Monday Nov 30 2020
9 38 AM CST
Our message this past weekend was either or. Either we had a break out Dow Theory buy signal or we had completed five waves up, finally, and a move down should begin this week. I am writing at the end of the first hour of trading and the DJIA just ticked down past 400 points negative. All our proxy stocks are down
CFR -1.57
DIV- .24
NS -.38
XOM -1.40
Our Treasury short TBF is up two cents
It may be that finally the Elliott Wave Pattern completed.
Please be sure to read Andy Kessler's column in the WSJ today. He notes the DJIA hits round numbers
1,00 in 1966
10,000 1999
30,000 now and then goes into hibernation for ten years
Recall that social mood is unremembered, everyone seems to have forgotten the February peak and resulting 11,000 point drop. Kessler points out Apple provided 2,500 points of the 12,000 point advance from the March Low. We have hammered on the point that the FANG and Tesla stocks have drive much of this rally.
We will update after market close today..
Comments