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Monday, November 22, 2010

Market Thought... nothing new

Gobble Gobble week is not the best weeks to gauge the market. I was expecting there to be very short-term weakness to allow the market to rest, which would re-assure a rally. Seems like this is happening, although there was nice strength toward the end of the day today.

In this short-term negative, the market may retest the 1074 mark seen a couple of days ago. It already tested the high end of that support today. Although, to add a bit of a contradiction, names like AAPL, IBM and GOOG do indicate a short-term push upward.

I still very much believe the market thesis presented in the Market Thought posts 'maybe, maybe not' and 'upside'.

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