I agree - debates won't sway the markets -- unless the markets are looking for an exuse to be swayed. And, EW-wise, they may fully be at such a point. The pullback - so far - looks like more or less a standard retracement, albeit maybe with a "biggish" "C".
I am net long now. If the market gaps up and/or runs on Monday, then I was right. If not, then I'll have to watch the structures and the levels, and if needed, will bail. Won't be the first time.
I think Bush did very well. He was sharp, confident, and had good command of facts and issues. After the fiasco during the first debate his detractors once again brought up the "Puppet theory", meaning that the man has no mind of his own, and is being run by "gray eminences" behind him. Last night's dabate, imo, completely - and forever - devastated such silliness. And this will translate into votes. John Kerry came out looking smug and overconfident, like if the election was already his. But after a short time his lawyerly confidence started to sound a bit hollow...
Above is imho... I'm sure many felt differently. |
