Market Update - November 28, 2012
I hope all my clients and blog readers had a great Thanksgiving. As for the Wenk clan, we enjoyed a few days of rest, relaxation, family, food, football (darn Lions), and more food. Man did it hurt to go on my regular run on Monday!! Today's market update video puts us in a familiar spot with the stock market. As of today, the S&P 500 is right around 1,300 - an area it has used as both support and resistance for the past 12 months. As you'll see in the video, if we break through the area decisively (think at least a couple percent higher and sustained for at least 1 week) I suspect we'll go higher the balance of the year. Should we fail, I suspect we'll go right back down at least as far as the recent decline (5% or so drop from current levels).
Enjoy today's market update video - I'll be back in touch with updates perhaps before the week is done.