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11.11.22 – FRIDAY MARKET OUTLOOK

Market Outlook
 

Many investors on social media expected the market to sell off today as investors would take profits before the weekend. But I didn’t expect that. Many investors were very bearish, and the 6% rally on Thursday was too strong for them to stay in their short positions. They got squeezed and had to get out. That fueled the market further up. Today, we saw the momentum of the short squeeze. But that doesn’t mean the battle is over. We are approaching the expected resistance at 200-day MA, where the bears may step back in and short the market here. The only thing that can destroy them is the FED easing their tightening. I think we will see this rally continue to $4,100 or higher in the coming year-end rally.

 
Market Outlook
 

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