The outlook for Friday Nov 21 2014 was for the market to repeat Thursday’s movement with see-saw action and a slight move higher. While there was see-saw action it was definitely later in the day and not the morning.
SPX Intraday Market Direction for Nov 21 2014
Looking at the one minute chart you can see the big gap open in the morning. Within minutes of the open the S&P had hit a new all-time high of 2071.46. A lot of investors felt this jump was overdone and they sold the market lower by almost three-quarters of a percent down to 2056.75. From there a see-saw developed which moved the market to close up around 10 points at 2063.50.
Advance Declines For Nov 21 2014
Friday was one of the heavier days for the week with 3.9 billion shares traded. 77% of the volume was to the upside with 65% of all stocks advancing. There were 199 new highs which is the highest number of this week and just 15 new lows. Friday belonged to the bulls and has set up the market for more upside in the last week of November.
Market Direction Closings For Nov 21 2014
The S&P closed at 2063.50 up 10.75. The Dow closed at 17,810.06 up 91.06. The NASDAQ closed at 4712.97 up 11.10..
The rest of the market direction outlook is for USA members. Tonight’s market direction outlook contains a more detailed look at the upcoming week and the signals I am watching this week. As well as the outlook I look at a strategy to apply to Alibaba Stock for those investors who are following the stock and wish to try to trade it but are seeking a higher level of protection than usual. My strategy limits losses that can be suffered by investors and could result in weekly gains of 1% or higher depending on which version is used.
Tonight’s market direction outlook is 2700 words in length and will require 11 pages if printed. FullyInformed USA Members can login directly through this link to review the market direction outlook and investing strategy notes for Nov 19 2014 or Members can sign in to the full USA members site here. Non-members can join here or read about the benefits of being a member.
Stay FullyInformed With Email Updates
Market Direction Internal Links
Profiting From Understanding Market Direction (Articles Index)