Most of the indexes and stocks we have written about over the past few weeks have undergone a period of selling activity, as expected. These have showed signs of buoyancy with continued rebounds following the selling. Perhaps this is money that has been on the sidelines, or money managers wanting to get in on this huge bull market before year end. Regardless of the reason, we have seen volatile movements which have resulted in good trading profits on both sides of the market.
The Russell 2000 has still not confirmed a new high but is poised to challenge once again. Gold has started to correct after its parabolic rise. The Bank Stock Index is also poised to challenge a new high. Interest rates remain at historical lows. Treasuries are set to rally again.
Stay tuned for more Marketdoc Report updates. You too can learn to recognize important market patterns!
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