Regarding the market today, I don't know that much needs to be said. This was an incredible day down. I covered my shorts thinking it should bounce, but anything could happen. The financials continue to hold their ground for the most part, but I am still suspicious of their sudden strength.
Here are some interesting sector measurements. I will try to keep this a regular posting.
Sector performance since the July low:
Sector performance over the last 21 days:
Sector performance over the last two days:
Again apologize for a short post. I'm still organizing my thoughts and my charts for this blog in addition to real life. However, if you look at my charts you will see some annotations, etc., in various places (new annotations, I might add). Once I get the structure up to a position where I like it I plan on giving detailed analysis. At this point, setting up the blog is consuming most of my time.
Be sure to stop and take notice of the beauty of harmony.
Floor Pivots for tomorrow:
| IWM | QQQQ | SPY | XLF | |
| R2: | 74.53 | 45.33 | 128.34 | 22.25 |
| R1: | 73.17 | 44.49 | 126.19 | 21.62 |
| PP: | 72.33 | 44.08 | 125.07 | 21.29 |
| S1: | 70.97 | 43.24 | 122.92 | 20.66 |
| S2: | 70.13 | 42.83 | 121.80 | 20.33 |
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