Regular readers know from last week's commentary that my Hybrid Lindsay model is forecasting a high in the Dow Industrials index today or very close to today. Readers will also remember that October 19 has been a difficult date in history for the stock market.
But an active investor doesn't need to be a follower of Lindsay or of "ancient" history to be expecting a high in the market this week. Last Friday was option expiration. A quick look at the chart below reveals that the equity market (the chart is of the S&P 500) has rallied into OPEX only to reverse trend once OPEX has passed for most of this year.
Request your copy of the October Lindsay Report at Seattle Technical Advisors.