- Ryan Mallory
There's not a lot of reason to be short on this market... well that depends on the day of the week of course, because on Friday of last week and Monday of this week, things were starting to look grim. Since the debate, the market has been extremely bullish. And it is not because it is up or down, but because it continues to strike obvious bearish and bullish patterns nearly simultaneously that causes such conflict.
At the close of Monday, you were working with a bear flag pattern on the S&P 500 (SPX). At the close yesterday, you had a nice bullish engulfing candle pattern. In the meantime the market actually doesn't go anywhere noteworthy, in terms of establishing a legitimate trend to follow.