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Market Snapshot November 8, 2021

Good Monday AM,

Bonds are flat on the day which is likely a good thing. We have seen a nice pop recently driven by the UK‘s decision last week to not raise rates and it’s time to take a breather and perhaps nearby support levels. Always remember that markets are not linear, they move in waves. The hope is that each wave falls softer and less than the previous wave (higher low) and that the next rising wave is higher than the previous. As long as you see higher highs and higher lows, the trend is your friend. We concern ourselves with waves that make lower lows, and/or waves that make lower highs, this is what happens when a trend is tired and likely to switch directions. At the moment, things look bullish and I expect further improvement. This does not mean we will not get a pullback prior to the next run up. ANOTHER big news week. This week we get CPI and PPI. If they are again tame, the markets could rally significantly but there always the chance for a pullback.

Elon Musk taking to Twitter to poll whether he should sell some of his stock. The public says yes and he says he will follow that decision… Tesla stock down 5% 🙂

Please remain safe and healthy, make today great!