Soon after yesterday's closing bell, a famous investor was quoted as saying that yesterday’s market advance was more than a bear market rally. 

Year to date the DJIA stands out as the best-performing major index, down about 10.5%, whereas the S&P 500 is down about twice that. 

If the Dow can move decisively above its 34,200 resistance line it would bolster the formation that developed in late summer and early fall. 

Since 1946 the stock market has rallied 17 out of the last 19 midterm elections, but that is not what I’m basing my outlook on… 

The market’s near-term upside has probably been defined by the intraday rally that followed the Fed’s decision on Wednesday…

It was a technical analysis 101 reaction following yesterday’s announcement by the Fed to raise rates by 75 basis points. 

Arguably a portion of the market’s recent recovery is attributable to the expectations that the Fed will begin to moderate its rate hikes after today’s announcement. 

October has been known for its historical declines, but it has also produced some historical pivots along the way. This October may have been one of those...

Happy Halloween! All treats on Friday with strung-across-the-board rallies, very uniform too.