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WALL STREET CRAPS STOCK MARKET STRATEGY NOVEMBER 18, 2018

November 18th, 2018

craps front coverSTOCK MARKET STRATEGY FOR NOVEMBER 18, 2018: The stock market appears to be in the process of retesting its October bottom. For now, it’s filled the upside gaps on its most recent move down. That means that a rally could possibly start from this area right now. Or it could begin down again, reach oversold conditions, and successfully test the October bottom. That kind of process would probably take place on the week following Thanksgiving.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: The Fear/Greed Index is currently reading 10 or “Extreme Fear.” It has been in this range for nearly a month and has shifted the sentiment to the negative. That means that a rally starting from this area could last several weeks or months. But the current short-term climate makes me think that catching the absolute bottom will be tricky as always. And a smart, well thought out betting strategy will be important in order to take positions without risk missing the opportunity. This requires that a trader pays close attention over the next two weeks.

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