Bryan Bottarelli, Head Trade Tactician, Monument Traders Alliance It's been a furious upside market rally in the month of November. As you read this, Wall Street is coming off its fourth straight positive week. The S&P 500 is up 8.6% so far this month... The Dow has bounced nearly 7%... And the tech-heavy Nasdaq has popped 11%. These are huge monthly moves. And they're a result (partially) of Black Friday e-commerce spending jumping 7.5% from last year. So, after such a fast and furious November bounce, it's easy to understand why most stock charts appear "toppy" as we head into December. (NOTE: "Toppy" is a non-technical term that I use to describe a chart that has moved up too far too fast and needs a consolidation - or even a pullback - before it can begin its next upside move.) So the obvious question is... At the end of a month in which stocks have blasted higher... Are there any bargains left right now on Wall Street? |
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