Donald Selkin November Quotations

We saw a 2 or 3 percent pullback in early November and it has come back since then. What could take us higher in December is a good pre-announcement season.

The big hurdles next week are the Fed meeting Tuesday and the jobs report Friday. The market reaction to those events may set the tone for the month and determine whether we'll see a November rally.

I'm maybe more optimistic for the end of the year, but for the next few weeks, I think we are still in these treacherous waters. We're just going to have to grin and bear it, and then maybe we'll see a run up in November and December.

We made a good recovery off the April lows, but now we may need to move sideways and consolidate. Maybe then that will set us up for the typical November through January advance.