Under normal circumstances, tomorrow – Wednesday November 12, 2014 should mark a turn day in the stock market.
Of course there are no guarantees, and if you’ve been watching these light volume markets float higher over the last several days, it may be hard to believe.
There still may be some unfinished business to achieve on the upside, meaning higher prices are possible before any turn occurs. That does however fit into the scenario nicely. If the market opens higher tomorrow and then reverses back down on any kind of volume, that could mark a reversal day. Remains to be seen.
The gold market seems to be firming up, and may have put in a bottom, although I’m not convinced just yet. As with the stock market, I would like to see a high volume reversal to signal all systems are go to the upside – but we haven’t seen that yet.
Crude oil continues to struggle and can’t get out of its own way. Until Crude oil has a daily close above $80, we should go back down and take a peek at $74 – 75.
The remainder of the analysis is found in the video below.
Of course, a shout out to all the Veterans out there. Thank you for your service – you’re all HERO’s.