Market Update 21 Nov BMO
Just a quick update after the close of 20 November 2009 …
Looks like we’re on the way down to 6,000. The way the market is deteriorating, I reckon we’ll see DOW break my 7,080 before Christmas. Of course the market will rally a little as more bargain hunters come in today, especially since November Expiration Friday is traditionally a bullish day. But I won’t be holding my breath for any upside further than my 11 year Historical retracement of 8,000. The best that can happen is to range along the 8,000 level till Christmas.
Looks like we’re in for a very Beary Christmas.
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