Stock Market Review

Russell 2000: +1.82%
Nasdaq Comp.: +1.46%
S&P 500: +0.50%

Nice week for the markets here after a runup the previous week.  To have follow through even while overbought conditions triggered is pretty impressive for the bulls.  Right now we have  the 50dma and the NOvember highs in our sites.

We are not out of the woods yet. the market is still making higher lows and till we take out the November 2nd highs we are in a downtrend.  Now taking out that level will break the series of lower highs and put us on a more sustainable path towards yearly highs.

We need to be careful here as we are under a lot of resistance and stochastics are very overbought

[screencast url=”http://screencast.com/t/7C1QVQzP” width=”” height=””]