Tuesday Market Wrap-Higher We Go

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Sold balance AMBA +21%

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Upside’s Commentary

The major averages ended Tuesday near their highs with the S&P 500 (+0.5%) registering its fifth consecutive advance. The benchmark index settled at a fresh record at 2,051.80 high while the Nasdaq Composite (+0.7%) outperformed after struggling yesterday.

Today began on an unassuming note, but the health care sector (+1.6%) quickly pulled away from its flat line thanks to significant strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 295.25, +6.41) jumped 2.2% and contributed to the relative strength of the Nasdaq.

It feels to me that the animal spirits are stirring and this action could take s through Thanksgiving.  Then we wait for Santa Clause.

Don’t know about you guys, but I’ve been trading with gloves and a hat. Brutal cold out there. Stay warm.

Remember this chart from the Sunday video?  Well its popping above that red line.

See you in the morning.


Oh by the way, come like the Upsidetrader Facebook page and tell your friends.


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