By Investor’s Yak
Again, little change in the Market last week, so please refer to our prior articles more coverage. Major market indices are hugging their 200 day moving average (DMA) and appear strong there. But since the market is extended, there is a good possibility for a price pullback. More time is needed to confirm whether a bull or bear direction will ensue.
Action Zone (AZ) Assessment:
* Daily AZ’s are still extended
* Weekly Charts show AZ #2 momentums completed triggering and have conviction to continue higher
* Monthly Charts, have completed a nice AZ #1 trigger an are still setting up for AZ #2
Event calendar affecting markets in November
28 November – Black Friday kicking of the Retail Christmas shopping season.
27-30 November – End of month window dressing; could extend into December.
Leave a Reply