Wednesday 10th November was a mixed and volatile day which leaves a ngative after taste.

The S&P Price crossed down through the 10&20&50 day Moving Averages which is a negative sign.  Yesterdays price moves equate to an “Inverse Hammer Candlestick”, or more correctly a “shooting star” meaning the 3 day short term upswing “may” be at an end.  Action for Wednesday tried to test the long term trend line, but failed.

How the market interprets news is important, and although the news from the FED was not negative, the market could not muster enough strength to move higher.  My advice is still to wait with your hard earned cash on the sidelines, until the market gives us a strong signal that it wants to move up.

Name: Barry D. Moore

Bio: Certified Technical Analyst (Stock Market Technical Analyst), Full Member of Society of Technical Analysts (STA) Level II CFTe (Certified Financial Technician), independent trader, author, trainer & blogger.