A Great Month of November but Weakness ahead?

November turned out to be a great month. It was also the best month for me. But the last day of the month gave some indication that there could be some weakness the next few days. The expectation is the market will take a breather and then march right on to give us a great December as well. But one has to be cautious. Let’s see where the markets are:

SPY: still looking bullish

IWM: bullish but price crossed below the 10-day moving average; could be temporary but certainly something to keep an eye out for the next few days

EEM: still bad and does not look like will change any time soon

XLF: bullish and looking good

XLK: slightly bullish but dipped below the 10-day moving average so there is some weakness

XLE: ripped 5% yesterday and went dramatically bullish obviously based on the OPEC agreement

XLU: looks bad

XLI: bullish and looking good