Stock Market Review 10/30/2011

evening folks. Great week in the markets.  The s&p was up almost 4% and we finally broke over the 200 day moving average.  This is a huge development as the 200 day moving average signals the longterm trend.  This thrust really puts the bears backpedalling.  If we can hold here im not sure they will have the fuel to take us down again till year end.  The market were led by the russell2000 and the chinese markets.  This is what we want to see that tells us the risk trade is back on.   Ideally with us finally over the 200 day moving average a consolidation period of a few days or a week would do wonders for the bulls as it would give us a rest and allow market participants who have missed the rally to enter without feeling like they “chased”  There is still a lot of money on the sidelines along with a bearish sentiment from a lot of traders.  In my opinion this just gives us more fuel for a run.  Overall epic weeks we have had.  A good time to push the limits and see if we can finish the year with some authority.  I know I still have a lot of trading goals unmet for the year and im going to take this next 2 months and push myself to hit them.  If your in the same boat and need help with a plan let me know.


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