Off the Charts
The bond markets were closed in observance of Veteran's Day, and the way it turned out, the stock market may as well have been closed, too. It was a very quiet day in the market as both the Dow and S&P 500 finished exactly even. Stocks opened slightly higher this morning, but couldn't build on the pre-market strength.
We continue to believe a cautious approach to the market is best at this stage, which is the stance we taken since the S&P broke its 50-day moving average on Oct. 19. We believe it is best to be a more short-term scalper during market corrections than a multi-position swing trader. At this point, the S&P is hovering around the 200-day moving average and has already seen a 6.5% correction from the September highs. What's next for the market?...761 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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