Buy on Bad news
The number of people receiving unemployment benefits has improved significantly, dropping to below 300,000 for the first time since the epidemic. It is generally believed that the FOMC’s regular meeting on November 2-3 will announce the tapering, but it will be implemented in the middle of the month. Normally, the USD Index should rise and the US stock market should fall. But since this matter has been discussed for several months, the market has already digested it. Now is in the state of reverse trading seeing good news is not buying but selling, and seeing high-interest rates is not selling but buying.
Has the stock market finished falling? Hang on! We need confirmation, no need to hurry and mind the support of 150 SMA. Please do not neglect Nasdaq and S&P also had shown jumping gaps.