Stock Market Analysis

Monday, November 19, 2012

Intermediate Correction Ends...

Welcome to Thanksgiving Week!

This is going to be a holiday shortened week with the Thanksgiving holiday on Thursday and a half day, low volume, market day on Friday. Here's wishing our American readers, happy holiday!

The Dow turned around decisively and completes a reversal with a 207 points rally after touching the 12,500 points level intraday last Thursday and Friday, exactly how I said it will. The 12,500 points level proved to be the final support level of this intermediate correction indeed, allowing my stock options picks subscribers and me to take our 6th straight put options win on OVTI today, effectively closing off all our bearish position of this intermediate correction. I would definitely start to spot good bullish trades from this point forward. (my subscribers are going crazy over the wins! Check out my Master's Stock Options Picks service now!)

This turnaround could also spark the start of what is known as a "Santa Claus" rally, which is a year end rally that happens most of the years. So, is Santa Claus coming to town this year?

For now, the Dow turns a short term neutral trend within an intermediate bear trend within a primary bull trend.

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