November 7, 2023

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

The Next Trigger

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows that the stock market has now moved above the top support zone.
• The chart shows that the move down below the top support zone in late October has temporarily proven to be a bear trap.
• RSI on the chart shows that the stock market is overbought.  Overbought markets tend to be vulnerable to the downside.