We are in the experiencing the last wave of a Minor 2 wave. The target levels for this rally are between 1280 - 1310. See DanericsEllitotWaves. From there, we should see the first wave of Minor 3.
Friday, December 2, 2011
12/2/2011 Update; Market rebound
The market is rallying from the short term oversold levels. News about European dept continue driving short term sentiment. S&P500 is touching its 150 day moving average. If the S&P500 crosses and holds above the 150 day moving average, it can be a bullish sign - at least in the short term. However, stocks remain highly risky and volatile in the short term.
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