Nov 11 Pre-Market Commentary

Our ST model shorted the stock market at the open Monday after closing out a day trade long on Friday. So far, it has been a profitable trade. Today, the stock market futures are pointing to still more down side on the open.

Cycles and waves point lower into late day today to early tomorrow for a low. If we sell-off dramatically near the close, we will cover shorts and begin initiating long positions for the expected rally into week's end.

We are oversold enough on some VST indicators to suggest a low is nigh. Cycle-wise, the bigger 2.5/5 week cycle low is due soon. The 4 day cycle is due late Wednesday, but has been coming in early as seen by the 4 day cycle top due late Monday and coming in early Monday.

Gold mining shares could see a nice ST low Wednesday and we may go long in the ST model then. The IT model is still in cash and will remain so until after we double top and come back down one more time next week.