Posted on November 4th, 2008 at 8:50 AM
In recent weeks, we have been looking at where the Dow is, and possible scenarios as to where it can go from here. Several weeks ago, I made the statement in the Mentoring that the range we established the week of 10/06/08 should remain until after the election. It is such a large range (2440.25 points), and it's high and low act as support and resistance until something comes along strong enough to push us through one way or the other. I also said that I didn't think it would matter WHO got elected, just that the election would be over, and that would "free" the market to go where it intends to go. Well, here we are on election day! It's finally here, and the market is on the Bullish side of that range, pointing to a possible up-swing after the results are known.
