R.C. Market Report 11.13

• Tomorrow's Forecast: Turbulence Expected

• We tested support and made a fierce recovery from that price level. The price movement from the low to the high of the day was about 10% I believe. President Bush came on to speak and the market didn't fall. Quite a bullish sign not to mention the fact that Bush's speech itself actually had a message worth listening to for a change. Lastly, buying volume showed up to back up all of these bullish signals. My anxious bullishness has been satisfied today.

• Tomorrow: As much as I appreciate today's action, I believe the turnaround needs more time. A three hour V-shaped recovery isn't long enough (time wise) to function as a base for several weeks of recovery in the future. I expect a pullback tomorrow and I am short this market. And I'll remain so until the time a longer term rally starts. Today's rally sets it up nicely for that rally.