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Weekly Outlook, 11-20

| International, Ltd. (CTRP), DIA, GMXRQ, MFA, SPY

 This week was very surprising. The market broke through support at 1200, but fear refused to take hold. The market then gapped back up above 1200, and hung on to end the week. This may be longer-term consolidation to break through the spring highs. It could also be a top grinding itself out. The longer-term analysis seems to suggest the former. My target of somewhere between 1240 and 1265 from last week is still in my mind. No new positions or changes in my portfolio this week. A big bullish signal I'm watching and waiting for is the volatility index breaking below 18. In the meantime, inaction is the key. Low trading fees.

Disclosure: Long GMXR, MFA, CTRP