The Weekly Report for November 9th - November 14th, 2008

November 9, 2008- Market Summary
It was a week of mixed results as investors continue to question the severity of global economic issues. The financial markets started the week by moving higher as investors awaited the results from the U.S. presidential election. Unfortunately, the declines that followed the election are a clear signal of the anxiety that many investors have as Barack Obama positions himself to lead a country that is facing the worst economic crisis in years. Technically speaking, the major indexes are still trading within a defined downtrend, illustrated by the diverging moving averages, which are making it extremely difficult to determine how long any short-term buying pressure will last. The safest bet is to remain on the sidelines because incorrectly timing the bottom could just make things worse.

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