One trick today: when ISEE Indices & ETFs only index > 100, 19 out of 25 times (76%) a red day the next day (most likely, see red arrows) or the next next day (blue arrows).
I know some of you would remind me of the trick about when both SPX and VIX closed in green, well, only 59% times a red day the next day as I don’t usually mention any trick with winning rate below 60%. Considering it’s just a half day trading on Friday, I doubt if this trick works or not this time.
The bottom line, watch the dollar. It broke below its recent trading range today while EURO broke above an Ascending Triangle with the text book target much much higher. But strangely, the market wasn’t up huge on this dollar pullback like it did on Monday. Not sure if this is simply because of a pre-holiday effect or the dollar goes too far to be a good news anymore.
Will dollar crash from here and how it affects the stock market are remained to be seen. But right now the most important thing is to enjoy your Thanksgiving! No market recap tonight. My next update will be on weekend. Cheers!
