November 21st – Spin The Wheel

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Expect Light Holiday Tradin’ ?

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One would expect a light volume holiday trading week, but so far many of the charts that I looked at have normal or average volume.  Maybe it will lighten up each day, but let's take a look at what trading took place  after the weekend report.

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SPX - The markets have been choppy and instead of that inverse H&S pattern  breaking back above the 200 sma again, Monday the Markets dropped.

 

I used this chart in the weekend report along with the increasingly ugly charts of FB, GOOG, NVDA, and even the IWMs lack of strength, to show the current weakness.  I warned again that if we don't see strength soon, we may see an a-b-c drop that looks like this on the General Markets Weekly Charts.

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November 17 Weekend Report

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As time moves forward, we begin to see the moves that we anticipated in various sectors, as they begin rising out of the recent lows.  Let's get updated on our Big Picture expectations...

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SPX WEEKLY #1 - We see that price has moved to resistance, please read the chart.

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