FOR WEDNESDAY: (9/6) Markets can be illogical and that could always happen on Wednesday. Too much background noise with a Category 5 hurricane heading for Florida –and hopefully swerving out to sea or going other places. Still, it’s rather unnerving and at the same time N. Korea is moving missiles around getting ready for another launch by Sept. 9. Still, markets are illogical with wildfires in Oregon and flooding in Houston are forgotten when you can push your stock portfolio higher. We did have contract rollover coming also.
We originally had a bias toward higher prices on Wednesday into Thursday and continuing higher into Monday but Gann said that “war markets” override technicals and cycles so we’re going to stay glued to the news like the rest of you. Hard to take much home overnight but at least the dog days of summer are over and we can enjoy larger ranges for day-trading.
