Wednesday, November 9, 2016

Trumpnado Hits the Markets.....11.09.16

The limit down swoon in overnight trading was short lived in the US session with SPY inching up on all time highs.  Below is the 130 minute bar chart of SPY showing exactly where we are.  And....based on today's momentum...which was clearly not short covering...the recent Ponzo forecast looks very plausible. Of course there's always a few caveats along the way as Mauldin points out, but some of the big money guys made a killing buying the open today and there's probably more to come.