R.C. Market Report 11.21

• Monday's Forecast: Seeking Volume

• A rally of decent magnitude at some point of the day was expected, mainly because today is options expiration day. But the catalyst of the rally, newsbreak about the newly appointed Treasury, is rather important. Considering the impact that Paulson had on the market, appointment of a new Treasury is big news. Technically, the monthly chart support still holds.

• Monday: The late rally will be challenged by major resistance level that's not too far away now. It remains to be seen whether large buying volume will show up because without increasing volume, this rally can easily fail like the other ones. So I'll be watching for volume once price gets near resistance.