WED Dec 21- Baby Steps

On Tuesday, the markets continued to take some baby steps. Not only did we see The DJIA take more baby steps toward Dow 20,000, but the VIX took baby steps toward the lows of the year.  Add to that Oil, Gold, and the Miners taking baby steps of their own.  Lets take a look and see what direction things seem to be heading in. 

 

DJIA -  The Dow was only 13 points away from tagging the big round number 20,000.  Since the VIX is below 12, we would usually expect a top to be forming, so the big party may be short lived once the Dow achieves that goal.

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Tuesday Dec 20th

Nothing has really changed since the long weekend report, so lets just review what has happened on Monday.

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SPX - We are due for a pullback into a dcl soon, but this looks like a bull flag forming, so one more pop higher could be in order first. A pop now could help the DJIA to reach 20,000 ( And then a drop would be expected).

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DEC 19 – MORE STOCK PICKS

I wanted to share a couple of trade ideas that would be considered low risk , since a stop can be placed just below the purchase price.

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