Very gloomy for tomorrow’s open. Any rally is artificial and will be sold. I will sell any top. My Nov 17 outlook is intact. The fact that a pennant was formed by the S&P 500 on Friday confirms my outlook. Either Oct 20 low (1,197) or Oct 17 low (1,192) will be revisited. Below are my guidelines for tomorrow.
One statistic that’s worth to mention: 4 out of 5 previous mondays were opened red. The exception Oct 24 was opened green; but all gains got wiped out on the next day.