Election Day Relief?

By: Ed Carlson | Tue, Nov 8, 2016
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Markets have now experienced a 9-day losing streak - something that has not happened since December 1980. Over the last 20 years the S&P 500 index has only recorded a seven-day losing streak on three separate occasions. The first was in 2008 after Lehman Brothers collapsed, while the other two were during Europe's 2011 debt crisis. We now have a fourth instance… plus two more days! Yikes!

If Friday's inverted hammer candlestick (SPX) is correct, equities are ready to rally. However, Lindsay's 222-day interval points to a "change of trend" as early as Election Day which would mean the decline of the last three months is not complete.

 


 

Ed Carlson

Author: Ed Carlson

Ed Carlson
Seattle Technical Advisors.com

Ed Carlson

Ed Carlson, author of George Lindsay and the Art of Technical Analysis, and his new book, George Lindsay's An Aid to Timing is an independent trader, consultant, and Chartered Market Technician (CMT) based in Seattle. Carlson manages the website Seattle Technical Advisors.com, where he publishes daily and weekly commentary. He spent twenty years as a stockbroker and holds an M.B.A. from Wichita State University.

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