The Quasi-Short Week

posted Nov 10, 2014, 10:59 AM by Katie Shook

Monday November 10, 2014

This week is likely to be a little narrower trading range than the last few weeks.  The bond markets will be closed on Tuesday for Veterans Day.  Economic news is generally light.  Earnings season is winding down.  And, at least technically, we’re a little overbought at these levels.

While the overall trend of this bull seems unchanged, the normal ‘breathing pattern’ of the market is looking like this week should be relatively sideways with a range on the SPX between about 2000 and 2056 or so.  Of course, geopolitics can always trump pattern.  But by and large, things appear to be chugging along.

Interestingly enough, there’s been very little recovery yet in the database.  We’re still at about 33% long in the system.  The system has now been in the low 30s for over a month.  With only about 35 trading days left this year — and probably five of those being in the heart of the holiday season — the Santa Clause Rally and the 2160 ‘high’ target for the SPX could get interesting.  The 2086 target, however, looks like it wouldn’t take too much of a stretch to see by year end.  We’ll see…

Daily Digits

Daily Digits 11-10-14

Weekly Estimated Range

Weekly Estimated Range 11-10-14

IMPORTANT DISCLOSURE INFORMATION Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Littlejohn Financial Services), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Littlejohn Financial Services. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional adviser of his/her choosing. Littlejohn Financial Services is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Littlejohn Financial Services' current written disclosure statement discussing our advisory services and fees is available for review upon request.