S&P 500 Index Commentary 11/18/2011
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S&P 500 Technical Analysis Update Europe Bides Time, Should You Buy Stocks?
Stocks overall remained weak in the face of the European debt crisis. NYSE stocks advancers led decliners 56% to 41%, however when it comes to the volume, down volume led up volume 50% to 49%. New 52 week highs on NYSE 73 versus new lows on the NYSE 74.
Overall trading was choppy stocks failed to regain their prior highs. Week over week, the S&P 500 close from its previous weekly close of 1,253.85 to 1,215.65, ending the week 3% lower.
Yesterday's low on the S&P 500 of 1209.43 held today will be keeping a close eye on the futures market over the weekend to see if there's any headline news related events related to Europe Greece Spain Portugal.
Next Weeks Earnings
Monday: TECD, TSN, ADI, BRCD, BWS, CCIH, CEDU, PSS, DY, GMLP, HPQ, JACK, JKS, PWRD, TSL, and ZLC.