Looking Forward

I'm actually looking forward to the weekend report.  This week is playing out as anticipated for the most part, so this weekend I will point out some more of the bigger picture things that I have been looking at. 


SPX - This climb is heading towards some resistance. We have Wednesday and a 1/2 day Thursday, do you think this will be able to break out higher on a 1/2 day of light volume holiday trading?   Hmmm?

SPX 12-22

Look at this weekly chart of the SPX ...

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Another Slow Week Ahead?

The holiday week has many people checking out early and preparing to spend time with families.  That means that this can be a week of slow trading, but that can also set things up for the next directional moves when traders return to work. Lets see what happened on Monday...


SPX - Bounce today.  Will it blast off higher? See the wkend report. 

SPX 12-21 Read More

Digging Deeper

This is one of those weekend reports were there was a need to dip deeper and investigate several areas of the markets.  Why? In the last report you may recall that I discussed how the recent trading reminded me of riding the White Water Rapids. For example the SPX was up about 75 points for 3 days heading into the Fed Mtg, and then it dropped down about 70 points for  the next 2 days.  Gold rallied with the Fed Wednesday , sold off Thursday, and rebounded Friday.  Is there a waterfall ahead, or will this river smooth out?  Lets dig in for clues as to what may lie ahead.


SPX - I posted this wkly chart to show 'weakness' in the indicators that I was using. This would indicate that more downside was likely. 

SPX 12-17 wkly

Take a good look at this chart of the SPX.  Later in this report I will explain why it is important...

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