Nov 28

My system went into extreme divergence on Friday (while I wasn't here). The move up today is not surprising in direction. However, even though my system issued a buy signal at the open, I am not in the habit of buying the market on a 3% gap up after a holiday weekend. I will wait to see what the pullback says, but I will likely be going long tomorrow.

Overall move was a 62% retrace of the October run. And there are good A to C relationships on the SPX and COMPQ. [Please see the post Randomly Useful: Fibonacci Ratio Table (Updated) for a proper list of Fib ratios].