The flat market is likely attributed to a holiday slow-down as we approach Thanksgiving next week (boy did this holiday come fast), and the fact that markets still sit on the fence between generally positive US economic data and negative European woes.
The bulls have definitely not broken out yet, however the year is not over and the much anticipated “Santa Rally” could still take off.
Not to spoil any holiday hope, but Spain has (finally?) reached the news again with their upcoming Sunday elections, and it appears that this country just might need a bailout as well. Also, the House rejected the Super Committee’s first proposal for deficit reduction; all I can say here is get ready for more bloodshed, November 23rd is less than a week away.
Disclosure: No positions in ETFs or stocks discussed in this article.
John Nyaradi is the author of The ETF Investing Premium Newsletter.