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We have one shortened week left in the trading year, and it could be a light volume week at that. Lets review what happened last week and see where we could be heading from here.
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SPX - Though this looks like a bull flag, it also now looks ready to dip down into a dcl. The red line is the 50sma, near 2188, and would be a normal downside target. The Vix dropped very low last week, and a pull back is due.
SPX WKLY - The blue line is the 10ma on a weekly basis, at 2188. Again, a possible target for a normal healthy pull back.
Read MoreNo doubt you've seen someone in the produce section or even out in a field picking apples, strawberries, or some other food product. They usually wont just grab the first one that they see, but instead they will compare one piece of the fruit side by side with another piece of fruit. They are looking to see which one looks healthier, or possibly which one might be flawed, so that they can choose the one that is best for them or their family.
Read MoreYesterdays reports called 'Baby Steps' discussed how the markets have been moving slowly along, and how that can eventually lead to a particular outcome. Well, most areas of the markets continued that slow crawl yesterday. If you read yesterdays report, nothing has really changed in many areas, except for Natgas. Today we will briefly review and discuss a few of these areas again.
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Did the Dow hit 20,000 yet? It was only 13 points away when I pointed out this chart
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