Mike Paulenoff's near- and intermediate-term pattern and momentum work argue strongly that the US Natural Gas Fund ETF (UNG) is in the midst of a significant recovery rally.
The actual outcome of today's elections or the specific verbiage of tomorrow's Fed announcement does not matter. The only thing that matters is the market's reaction to those two events.
The next 24 hours will be quite critical for the S&P 500 index. Clive Corcoran suspects a break above 1193 with perhaps a quick run towards the April high, but he would then be wary of an abrupt reversal.
Investors are waiting to see what happens next week. They’re sitting on the edge of their chairs. Will Ben Bernanke play it cool? Or will he want to do something really big, bold, and bumbling?
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