Well, yesterday's forecast proved correct, just. But what an interesting chart pattern we're seeing. Check out this daily Dow chart. A double shooting star. I went back over the daily chart for 12 years and didn't find anything like this. Today's pattern is even longer than yesterday's. Right now (5:15 PM EST), I will make the call that tomorrow will close lower again, with a fairly high degree of confidence, on this basis alone. And that the decline will be greater than today's 9 point loss. I'll update this post later on tonight when the Night Owl comes out.
12:45 AM Update: All three US futures (ES, NQ, and YM) have turned decisively lower as the evening wears on. Also, the VIX put in a doji after falling for five days straight. This tends to reinforce my earlier opinion.
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