Midday Update: 2023-11-01

Now we wait for the FOMC

S&P 500 futures started to climb prior to the open and that bled over into the day session till S&P 500 tapped a target based on extensions at 4248.75. As to wave form, that could either be early in a wave ii bounce, say (A) of [A] of ii though I wouldn’t put the odds of a new swing low under that of last week at zero just yet. As you know, I lean to a …