Market Update For October 24th

As of last Friday's close, the trend had not yet shifted to a down trend, as seen in the chart below that shows 5 key indexes. (Struggling yes, but down trending no).

The Institutional Index, the SPY, and the QQQ, and IWM were above their thick black horizontal support lines. 

The NYA was below its thick black horizontal resistance line.

The reality is that the IWM (theETF for the Russell 2000) had its relative strength at a negative level, so it is at a Danger level where the ETF could change to the downside quickly, especially after the Presidential election.

Disclosure: None.

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