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Today
Traders & Investors Club Event

Elliott Wave International

Market Roundup - 22nd November 2011

Event: 
Traders & Investors Club Meeting - 22nd November 2011
October, which is traditionally the most bullish month of the year, especially if we ignore the rather unfortunate statistical aberrations of 1929, 1987 and 2008, has not disappointed those of us who have kept faith in the market recovery. The current consensus amongst Fund Managers is that the market is primed to rally until year-end. So, the worst is over. Or is it?

 

From a technical perspective, all will be revealed very soon. There is a significant triangle formation in progress, the breakout of which will determine the direction of the market until Santa appears in the fireplace.

The case for a bullish breakout is strengthened by the fact that the triangle is forming after a strong upward thrust, which would suggest a continuation of the move. However, the NASDAQ100, which we would expect to be leading the charge, has remained in the doldrums for most of 2011 only briefly flirting with a break of the low 2400s in July.

Kevin Barry of the Traders & Investors Club will be discussing his market positions for the month ahead and explains why he is still unfashinably long the US Dollar.

Markets: 
Indicies
Currency
Futures
Bonds
ETF's
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