DEC 7 – Thursdays Mixture

When I look at the various sectors of the market,  they still seem to be moving at various rates, so we have a bit of a mixed set up.  Let's take a look at this mixture...

 

SPX - Here we have the SPX acting as expected. A possible 1/2 cycle low after getting a bit ahead of the 10sma. Some have been riding this for a long time now,  with a trailing stop.   If you bought UPRO  at the DCL, you could try adding if that was your goal. You can see that the SPX does at times break the 10sma & recover, so be prepared for that possibility. See SEPT & OCT.

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Oil Inventory Wednesday

There are a few things that I will be watching today...

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December 5th – Don’t Stay Too Long

As mentioned last week, we want to keep some of our open energy trades on a short leash. They were up 20% or so, so after a brief market review, let's take a look, take some profit, and not overstay that welcome  🙂

 

SPX  - We saw a large doji candle on Friday ( indecision) and on Monday the markets Gapped open on the hopes that a Tax break will help business, but then it sold off. Am I bearish? No, this is day 12 of a bew daily cycle and the move higher was steep, I think we may just drop to the 10sma & my trend line, or go sideways,,,

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