Summary: Continue to maintain a LONG/HOLD position
Not much has changed since the last market update to alter my opinion. The market continue to push through its daily highs as it marches forward.
While everything I have mentioned before is still in play (Please Click Here To View Previous Market Update), …..here is the difference.
Since early September of this year I have maintained that the market is topping and will resume its bear market shortly. As of now there is categorically no adjustment to that view. Yet, I have also mentioned that there were two possible time frames for the bear to begin. September -November of 2013 or March of 2014. I have argued that if we are too see the bear market now (from September of 2013 top) the market must start its down move in October or early November of this year. As of now, that window has basically closed.
That leads me to believe that March of 2014 will be the final top (even if its lower than where we are today) before a prolonged BEAR MARKET into the 2016-17 bottom. My timing work doesn’t show any serious turning points between now and the end of the year. That means the market is unlikely to experience severe volatility between now and December 31st. The next inflection point I see is January 1st, 2014. I will discuss that later.
As such, I recommend holding a LONG position until the market tells us otherwise.
Did you enjoy this article? If so, please share our blog with your friends as we try to get traction. Gratitude!!!
3 Replies to “Stock Market Update, November 8, 2013”
Comments are closed.