Market view for the next days – Nov 17th

Overall this was a good week for the bears with the S&P dipping below 1350 for the first time in months.

Friday was kind of a technical rebound on OPEX.

However it is still very likely that there is one more push down in the cards to create more pain to bulls, not necessarily on Monday but certainly before month end.

Bulls probably hope for some help in the form of positive news out of Europe or the States. This is the main risk to a short position right now.

Other than that the market is quite oversold and today’s action just worked out some pressure. The technical pictute is still bad, to say the least. So be careful with your positions at this market.