jump to navigation

A Wait & See Market November 21, 2020

Posted by Tom in Thoughts.

Nov 19, 2020 – Kind of a Ho-Hum / Wait & See Market this week. Actually, earnings were pretty good considering and some companies are actually starting to give forward earnings guidance. The chart below shows the increase in volume but prices really didn’t change much. The wait and see now focuses on stimulus relieve and political drama.

click to enlarge chart

We’re trading within the ranges of 12074 on the high side (previous high) and 11425 on the low side (previous swing low). Money & Flow Flow indicators are positive as is the Sentiment indicator; price strength is neutral. The US heads into the Thanksgiving holiday so market volume will tend to be light next week.

As far as sector strength goes there doesn’t appear to be a strong dominate group of sectors, though “clean energy” is showing some strength. Technology has improved but we need to see some follow though.

Short Term Sector Strength –

I didn’t do much last week and likely will only observe next week as well. I’m about 50% invested, so I’m looking for a reason and candidate to buy (or sell) as we head into the end of the year. I’d rather see “Ho-Ho-Ho” than “Ho-Hum”; the “jury is still out”.

Have a good week. ………… Tom ………….


No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: