Our November Stock Market Update in 3 Charts

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ETF TRADING RESEARCH
Our November Stock Market Update in 3 Charts
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• Hi, My name is Corey and Im with ETF Trading
  Research, today were reviewing our recently
  published article

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• Our November Stock Market Update in 3 Charts

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• The beginning of November marks the return of the
  Sell-In-May-And-Go-Away crowd. Theyre returning
  to a market thats on much more solid footing
  than it was a few months ago.
• Heres what we know

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• Technical November Stock Market Update

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• US stocks enjoyed an impressive rally over the
  last month. The SP 500 shot up 12.5 from the
  low on September 29th to the close on November
  2nd. Thats an impressive gain to say the least.

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• Along the way the SP 500 cut through multiple
  resistance levels like a hot knife through
  butter. Now the large cap index is back above
  all of critical moving averages like the 50-day
  moving average,

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• 200-day moving average, and the 50-week moving
  average. All sectors except utilities have raced
  higher over the last month.

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• Fundamental November Stock Market Update

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• The impressive move was fueled by a combination
  of better than expected third quarter earnings
  and central bank actions that are beneficial to
  stocks.

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• There was a large influx of money that flooded
  out of short term treasuries after the latest Fed
  announcement. In short, the Fed put the
  possibility of December rate hike back on the
  table if the economic data supports it.

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• A big chunk of this money found its way into junk
  bonds. Look at the surge in volume and strong
  price performance of SPDR Barclays High Yield
  Bond ETF JNK.

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• However, there are still headwinds for stocks.
  The US Dollar is strengthening again. That puts
  pressure on commodity prices and corporate
  earnings made in foreign currencies.

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• And slowing economic growth in China is hurting
  as well. Companies that made a big push into
  China in recent years arent seeing the growth
  they expected for everything from basic materials
  to consumer items.

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• Those concerns aside, theres no doubt that the
  recent rally has flipped investor sentiment.
  According to the AAII Investor Sentiment Survey,
  40.4 of investors are now bullish on stocks over
  the next six months.

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• Thats an increase of 5.6 from last week.

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• Key Takeaway From Our November Stock Market Update

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• Amazingly, the SP 500 is back near the all-time
  high. Needless to say, the rally has shot holes
  in the theories that stocks were entering into a
  bear market. But dont forget that the correction
  did break the uptrend.

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• And theres still lots of uncertainty about the
  next market move. We could be at the beginning of
  new uptrend. Or we could enter another period of
  stagnant stock returns and range bound trading.

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• Or the recent rally could be a counter-trend
  rally at the beginning of a down trend. All three
  are very real possibilities right now. Only time
  and price action will tell us what the next phase
  holds for stocks.

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