The markets are moving into the last month of a super-bullish year.

It was suppose to be a quiet holiday week (Thanksgiving Day) but OPEC meeting decided not to cut the production. They will continue to pump as usual. On Friday, some stocks (XOM, BP) gap down on the opening.

How will it play out on the Monday opening?

Let us turn to out charts….

S&P 500

S&P 500 closed at 2,067.56 points, up 4.06 points for the week.

Dow Jones Industrial

Dow Jones closed at 17,828.24 points, up 18.18 points for the week.

NASDAQ

NASDAQ closed at 4,791.63 points, up 78.66 points for the week.

In summary, US markets are inching up in narrow ranges except NASDAQ. But it is showing some kind of tiredness.

All weekly chart impulse color are green (prohibits from short selling).

I keep looking at extreme fragility of this bull.

This bull has proven its resilience time and again, but the higher they rise the faster they fall.

Needless to say, the market will do what it wants, not what I like.

Best wishes for the week ahead.

Divergence Trader

The post Bulls panting on a short track – US Market Review 01/12/14 appeared first on Divergence Trader.