Market Update for Tuesday, October 10th, 2023

Good afternoon, traders.

I went into my little vacation short, open to a deeper decline that almost started off well, but then I got stopped out on the strength on Friday. Let’s look at our two most basic structures.

The bearish structure that we can see is of course the head and shoulders pattern, and this rally off the 200-day SMA has brought us back above the neckline, and even into the gap we formed late in September:


The bullish structure that we can see is the large bull flag, out of which we briefly dipped, but which we are now well back within:


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Ok, let’s see what happens. No bears were found in the Appalachian mountains but that hardly means they are extinct.

I hope everyone has a lovely evening.

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