Per David Elliott :

MONDAY, NOVEMBER 9TH¡¯S MARKET UPDATE.

Friday I said, My reversal of a bear position, at this time, would be a move over Thursday’s Index highs.
So we made new highs Friday without correcting back to our breakdown targets.
This erased my bear position and made me a bull, until we get a signal ending this move that is retesting the highs of last month.

The US$ should continue to drop and retest prior lows of last month.
Gold and other commodities should retest or make new highs.

TUESDAY, NOVEMBER 10TH

Yesterday saw new market highs for the DJ-30, and good up moves for the other indexes, that are lagging a bit. This followed our market reversal from bear to bull from the technical signals and charts of last week.

The US$ made a new market low for the year, per the chart technical studies.
And Gold and precious metals made new highs for the year.

Today we have a 65%* probability of a market pullback for the DJ-30 after those kind of moves. (* WST team back test studies show a 65% probability of a down move after any 200+ up move for the DJ-30).

That would suggest a dip in the commodities as well, with a US$ bounce during the day.

However, the daily trend is still up after the MOBO reversal breakout last week for all the indexes with dips thrown in for the market scalpers.

I would look for the other indexes, SP-500, QQQQ, and IWM to hit resistance targets today putting a cap on any up move for the DJ-30.

DJ-30 upside resistance is 10300 and 10149 as support.
SP-500 upside resistance is 1101, last high, with support at 1078.
QQQQ upside resistance is 44.00, with support at 43.20 and 43.10.
IWM upside target is 59.55, with support at 58.57.