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Weekly Outlook, 11-28

|Includes:Ctrip.com International, Ltd. (CTRP), GMXRQ, MFA, SPY

 This week was dull. The market hung around the crucial 1200 point, but refused to take hold above it to end the week. I'm becoming increasingly sure that this is longer-term consolidation to break through the spring highs. Nonetheless, 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. GMXR showed some serious buying pressure a few weeks back, and it is currently getting cheap. I'm expecting a breakout when the overall market breaks out above the spring highs.

Disclosure: Long CTRP, MFA, GMXR

Stocks: CTRP, MFA, GMXRQ, SPY