The market took a bit of a rest from the huge upswing over the last 2 days. The Dow and S&P 500 both closed a little higher, while the NASDAQ lagged, closing lower. This is positive action after a big move, but lower volume on a holiday week makes it a bit suspect.

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There was a nice trigger from the Watchlist today. Past winner EBS triggered and closed up +6.85% today.

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Keep an eye on the VIX. It is approaching its 50-Day SMA. How is reacts here will offer more information on the markets direction.

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But make no mistake, the overall trend is down; we are still in a bear market. This rally could run out of gas quickly, but so far, things are looking good for a possible extended rally.

Trade Ideas for 11/26/08:

Only a half-day of trading tomorrow, but I will be watching these anyway for possible trades.

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Good luck and good trading!