Market Timing Brief for the SP500 Index Close on 11-08-2013: Re-topping

A Market Timing Report based on the 11-08-2013 Close published Sunday November 10th, 2013

With the good news of better employment figures on Friday, the SP500 Index has essentially re-topped as the chart shows below.  There is no point in buying without another breakout above the top of the range.  If there is in fact a breakout the target remains that upper white line.

Sentiment is the same as last week for individual investors.  My analysis is the same, so please get the password using the link below if you want to read it.

A correction could start from here or from that upper line.  I would doubt we’ll go sailing through that white line without further consolidation, but that would likely frustrate a lot of investors, so don’t rule it out completely.  Defend profits at some reasonable level (that’s my view, but as I like to say, “It’s your money.”)

I cover further thoughts on my access page from time to time, which you can subscribe to here: Free Subscription to My Newsletter  (I’ll send you back the password)

sp500-index-market-timing-chart-2013-11-08-close

Back to the Top. Need a breakout though.

Standard Disclaimer: It’s your money and your decision as to how to invest it.

I also comment regularly on Twitter: Follow Me on Twitter

I thank Worden Brothers for the chart system I use to post these charts.  If you want to know more about the charting system I use every day, go to my “Other Resources” page here:  Other Resources   It makes it much easier to follow along with me if you can see the charts and manipulate them on your own computer, so it’s a great investment to have an excellent charting system.

Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.

Copyright © 2013 By Wall Street Sun and Storm Report, LLC All rights reserved.

Advertisements
This entry was posted in investment, large cap stocks and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s