As our Stock Arbitrage Trader customers may have already noticed that on November 30th, our Arbitrage model has changed its short-term market direction forecast to “buy” after almost 4 weeks of “sell” recommendation. This means that generic market movement will be upwards and overall risk apetite will increase in the coming 5-7 days.
For the S&P500, our arbitrage model is forecasting a retest of the October high of 1292 (about +4% gain) in the coming week. The positive drivers from the market will be expectations from the EU leader meetings that are going to be held on 8th and 9th of December as well as positive economic data. Investors/traders who use tight stop-losses might want to watch 1220 as an interim support level.
“If you don’t already own” Stock Arbitrage Trader take advantage of this positive movement by downloading the app for your iPhone or iPad here!