For Wednesday, November 14, 2012, We Recommend Against Investing

Technical Comment:

The S&P 500 declined 0.4% on volume above Monday but lighter than the 30 day moving average.  If the S&P were to advance about 16 points on Wednesday (+1.2%), our forecast could change to a growth trend.

Subjective Comment:

The S&P 500 decline on increasing volume created another strong-volume down-day.  Daily market patterns continue to develop but are not yet fully formed.  Nothing has changed recently so we’re keeping this post short to minimize repetition for our regular readers.  We invite new readers to catch up with this post.

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