Outlook for Nov 30

Today price actions just confirmed that so far this week’s rally was merely an oversold rebound. The S&P 500 failed to break up 1,210 resistance. I loaded short whenever the S&P 500 flirted with 1,200 mark today. My outlook does not change. Tomorrow I expect the S&P 500 to test 1,183 mark. Then if selling is strong enough, we can see the S&P 500 testing 1,165 mark before testing the support – Nov 25 low. I have to see it breaking the support before dreaming of the intermediate target . Below are my guidelines for tomorrow.

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