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SP 500 and NDX Futures Daily Charts

IMG Auteur

Jesse

Le Cafe Americain

Published : November 01st, 2013

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	Stocks had a drift upwards today. The bulls smell the end of year now that it is November. Bloomberg TV was touting industrials as the way to play this into year end, despite a big gain for the year already. I doubt we will see any substantial QE taper until well into next years, but it is a nice theme to play against the short term 'wash and rinse' that is so popular amongst traders. I do not now see any significant correction until year end UNLESS there is some 'event' that provokes a sell-off. If there is such an event the market has a thin underpinning and may get some downside traction relative to the size and significance of any event. But that is a long shot bet. Have a pleasant weekend.

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Jesse 13 abonnés

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