Expect much of the same

October 31, 2006 · Print This Article

It should be a rather boring week for traders. With the mid-terms elections right around the corner expect to see a short-term trading range environment over the next few days. The market is currently in the middle of a fairly strong seasonal period so I would not be surprised if we tested the recent highs. However, I do expect to see a decent correction after the polls close. The market can only carry so many bearish indicators before a short-term correction occurs. Have a great night!

RSI Wilder (5) for October 31, 2006