Why a 200 point rally today?
FIBOCALL: THE SPX short term chart and overbought
SPX has the short term overshoot level @ 2488.36 above.
A close back below 2480.38 would be short term bearish.
Short term signals have been very good and back to short term overbought now.
The DMZ7 futures (DJIA) are very short term overbought with the 9/1 high @ 21995 above.
Can make sales and use a close above as a short term cover.
A 200 point rally today because IRMA did not do enough damage.
What will the reason be for tomorrow’s action?
NOKO ?
RUSSIA?
Yields on 10 year note?
Everyone seems to point to different reasons, so trade the levels.
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