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Hello everyone, a nice calm week in the market. Although volatility has increased a bit, the market spent the week acting in a very orderly manner. On Tuesday we added to our position, going from 55% invested to 100% invested, so now we are fully in the market with no margin use.
Not much has changed in our analysis since last week, although leading stocks are starting to look a tad better than in previous weeks. I’m still cautiously optimistic that the market will continue its’ upward direction for awhile longer.
Clearly the market is showing strong resilience, every time we start to see a break it quickly stabilizes and continues higher.
Next week is obviously Thanksgiving, which means light volume and most times sleepy trading since the big boys are taking the week off. Yet, historically many new trends start during holiday weeks particularly this one and the upcoming one in December. Since volume is so low during these periods, it is really easy for a large player to move the market and of course, once the market breaks free from a previous trend most other players jump in and happily follow. So, although I expect low volume, it would not surprise me if we get a strong move in one direction or the other.
Until then, we stay invested and watch closely. Hope you have a wonderful and safe weekend.
Resnn Investments, LLC