We're Now Trapped Between the 100- & 200-DMA (11/8/23)

(11/8/23) Markets tested the 50-DMA and bounced off of it to rally Tuesday. We're now "trapped" between the 50- and 100-DMA, so there's risk to the upside with markets having gone very far, very quickly. There is likely more upside for markets over the next couple of weeks...but...heading into next week, we'll enter that pre-Thanksgiving period which tends to be weak. So expect some consolidation, even a bit of a pullback to take out the 50-DMA. After Thanksgiving, expect markets to do a little better, heading into December. Also in December, mutual funds have to make their distributions, causing some seasonal weakness. Moving into the end of December and into 2024 is when the typical Santa Claus Rally can occur. We're thinking that ending the year at around 4,500 is not out of the question. Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton -------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Watch the video version of this report by subscribing to our new "Before the Bell" YouTube channel: https://www.youtube.com/watch?v=tuDcsA-5pNE&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #MarketRally #MarketRetest #50DMA #100DMA #200DMA #MutualFund #FundDistribution #SantaClausRally #Markets #Money #Investing