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WALL STREET CRAPS STOCK MARKET OBSERVATIONS FOR NOVEMBER 9, 2013

November 9th, 2013

craps front coverMARKET OBSERVATIONS FOR November 9, 2013: The stock market’s wild swings on Thursday and Friday suggest that we are entering a period of high volatility. This makes the game make trickier to play and being wrong can end up putting your emotions to the test. While Wednesday’s top looked like a classic non-confirmation, the strong rally on Friday ends the most recent simple price patterns of the market and puts the future in doubt. As the indicators will show, the overall market is a mixed bag of both buy and sell signals.

Key market indicators show the following:

For now, my advice for traders is to be on the sidelines and wait for clearer signals on the market. While the oscillators are close to buy signals, the price appears to be too high for a low-risk entry point. But a series of weak new closing highs in the Dow Jones Industrial Average could signal a sharp sell-off in the coming week.

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