Dec 29th: High Five -Things Are lining Up

What is lining up? Let's take a look.

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DJIA - I do believe that DOW 20,000 will have to wait for 2017. This is dipping into a daily cycle low.

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Wednesday December 28th – 20,000

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 All eyes on Dow 20,000. It was close, but we didn't quite get there yet.

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DJIA - I'm expecting a drop into a dcl, but the question remains, "Will we see Dow 20,000 before 2017?" It is possible, but then I think the markets experience that pull back..  Dow 19980.24 was the high Tuesday.

We do have a right translated daily cycle, so I would expect Dow 20,000 sooner or later.

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DEC 25 WEEKEND REPORT

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.

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