Outlook November 15

We closed out the recent Green Period with a 66 point gain for the Nasdaq. Not bad.
A summary of the Green Period vs. Red Period performance can be found here as always.

Markets started going down right on the start of Red Period last Tuesday.
With Red Period continuing we can expect further downward pressure this week.
Reasonable targets are around 1160 and 1130 on the S&P 500 index.

Now we will have to watch very carefully how the current Red Period unfolds.
Do we get a sharp downturn, or a much milder sideways pattern?
That will give us a read on what to expect for the coming December.

Good luck, Danny.

By Dan

Author of LunaticTrader and Reversal Levels method. Stock market forecasts based on proprietary indicators, seasonal patterns and moon cycles.

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