I was eating red grapes yesterday with my 3-year-old, Kiki. "Where do grapes come from?" I asked her - "Wal-Mart" she replied.
The Great WAL-MART! We're all suckers for cheap stuff (insert alternate word here). WAL-Mart's earnings jump-started WAL-Street today. This is the reported root cause for the rally in the eMini S&P's and related markets today.
Well, "a cheap price is a cheap thrill" - so I'm not BUY-ing (get it?), yet. Strong volume came with this rally today, but I'm thinking we have not seen the end of the Bearish Fall we're having. Read the comments from yesterday again - good stuff (and like WAL-Mart, cheap.)
Reports Tomorrow - PPI and Retail Sales are released Wednesday - these will be the numbers to watch.
Pivot, Support and Resistance for Wednesday, Nov 14th:
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