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11.15.22 – TUESDAY MARKET OUTLOOK

Market Outlook
 

The market, again, started on a very strong note in the morning, rallying over 1% (at some point, even 1.5%), but then, but the end of the day, it again lost steam and paired almost all gain. As you can see, we are at the 200-day MA, and bears are trying to short the market here. Today candle is a shooting star (though not bearish), and that can push the market lower. The VIX is in strong contango, so the odds are bullish, but we may have a hard time breaking the resistance at 200-day MA. DOW broke the 200-day MA, so we may see SPX follow. As of now, it is a mixed bag. We may still be heading higher by the end of the year.

 
Market Outlook
 

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