Tuesday Dec 20th

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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

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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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Dec 17 Weekend Report – Precedence

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We have seen some unusually deep selling in the precious metals sector, so I do want to discuss whether or not there is any past 'precedence' in this area later in the report. First let's discuss what has happened in just the past week. To the charts...

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SPX - Dec 12th, I was looking for the run to stall, and we should see a pullback.

SPX - We have stalled and pulled back a little. A break of this trend line could bring a little more selling, but this will likely be a right translated daily cycle and we can expect higher highs on the next one too. The red line is the 50sma.

SPX WKLY - And we do see a form of topping candle on the weekly. Falling to the blue line at 2200 would also back test the break out.

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