SPY has been in a choppy trade with strong resistance at around 211 and good support between 208 - 207. Will retest these levels before making a move.
GOGO ascending triangle. Will it get a boost from earning?
GE has been forming Lower Highs and Lower Lows with a strong resistance @26.32 and good support around @25.07. The Elliot Major cycle indicates the completion of Wave I, II, III and IV with V to complete the pattern. The RSI also indicating a strong resistance.
VALE has broken the pattern and will be a good value investment
GE has closed a gap around lower 25 and been having a great support on EMA 200. Currently moving through a tight range of 26 - 25. Looking forward for 2014 results.
As SPY is riding the government bubble, it will cool down after or before the end of the results season.
History indicates that the month of NOV is not very good for the market. For the past 5 yrs their has been a drop of atleast 10% (average) during the month of November. Due to the recent blockbuster movie "The Government Shutdown" the numbers dont support the rally and SPX needs some real correction before we can buy yourself for the next year.