The market remains very strong as the Q4 holiday shopping season officially began. The S&P 500 topped 2,600 for the first time as buyers showed up with a very shallow two week pullback. The Nasdaq also hit a fresh record high as stocks continue to surge. The Dow closed below its record high and also remains very strong. The fact that the latest pullback literally only lasted two weeks illustrates how strong the bulls are right now. It is still early, but so far, all the data I’m seeing suggests the Q4 holidays season will be strong which bodes well for both Main Street and by extension Wall Street. The fact that the bulls showed up (again) last week illustrates how strong the market is right now. Remember, in bull markets, weakness should be bought, not sold.
Thur & Fri Action:
Stocks were closed on Thursday in observance of Thanksgiving. Stocks rallied on Black Friday as early signs point to a very strong holiday shopping season. Black Friday sales began on Thursday and lasted all night. Additionally, this Q4 holiday shopping season is expected to be strong because the unemployment rate remains low and the economy is strong.
Market Outlook: Bulls Are Strong
The bulls are back in control and the market remains very strong. As always, keep your losses small and never argue with the tape. Get Our Free e-Book: Learn How To Buy Leading Stocks…EARLY. Get It Here…