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WALL STREET CRAPS STOCK MARKET STRATEGY NOVEMBER 12, 2017

November 12th, 2017

craps front coverSTOCK MARKET STRATEGY FOR NOVEMBER 12, 2017: The stock market has experienced a short correction in its rally since the August bottom. The internal indicators are slightly oversold and can support a continuation of the rally with the aid of any good news. But ideally, if the market continues to correct, it will set up a better buying opportunity around Thanksgiving or in the seasonal bottoming time around mid-December. For now, it looks like a good time to wait for a better entry point for a ride up into the New Year.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: The Fear/Greed Index is currently reading “Neutral” after a long stay in the both the “Greed” and “Extreme Greed” territory. But a quick move lower into the “Extreme Fear” would probably present a good buying opportunity. I’m inclined to wait for such a time especially when that reading coincides with oversold readings in the internal indicators above. So for now, it’s a time for patience.

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