Coming towards the end of November
The markets $DJIA(.DJI)$
This week will see the end of November and the markets entering the holiday season and year end. Are we going to see a year end rally? Its hard to say but the markets look more likelyto pull back in the short term and before they do that, its rather premature to talk about a market rally. So we shall need to see how the market move in the coming weeks. A 3 wave pull back into wave 2 level territory holding off the necessary levels will be encouraging. A sharp 5 wave pull back past levels that need to hold will be something the bulls will not want to see.
So how the market behaves in the coming weeks will be important and determine my risk levels and positioning. In the meantime, I am cautiously optimistic.
Stay safe 😊
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This is a good time to take a rest from the stock market. Be ready when it starts to recover. Watch for the Ukraine war to end