Stock Market Analysis – 2011-11-01
November 2, 2011 at 12:40 am · Filed Under Broader Market
A couple big down days and the breakout already looks done. You may have given up any bullish hope, but don’t forget that most breakouts end up testing support at some point. That’s not to say I’m bullish, but until we break under that $1225 support, it’s premature to call this a false breakout. Falling through that could lead all the way down to $1100 though, so hopefully you measured your risk on any new positions so that you don’t get shaken out early, but still account for the steep drop off to the next level of support. As usual, it should be an exciting holiday period…
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