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Since calling the lows in NATGAS recently, it has run straight up. I was asked if I had any idea what may happen next. Lets take a look at this and a few other ideas for the last trading day of 2015.
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Review: This was NATGAS at the lows. I thought we could buy a pullback, possibly on a dip at the 20sma.
The short covering was too strong. NATGAS went straight up to almost $2.40!. Nice move. I pointed out the 50sma as a possible support, and it held yesterday, but let me share 1 more idea.
Read MoreAs this trading year wraps up, I plan on using the weekend report to discuss some ideas of what we may expect in 2016. We have 2 trading days left this week and then it's on to 2016. Lets review what the charts are saying...
DJIA - So far the Dow has made lower highs since May. We are at resistance and may drop back down to the lower support. If this breaks out and runs to the blue dotted line, it will be the first set of higher highs.
There are several interesting things to look at here...
Read MoreIf you are wondering why I chose the above picture, I'll explain that later. Right now we have the markets in limbo, Natgas on Fire , and Precious Metals seem to be searching for a catalyst . Lets do a review...
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NYA - I thought it was interesting that the NYSE looks a tad more bullish than than the SPX or NASDAQ short term. It had a MACD cross higher 2 days ago, while the SPX doesn't (yet). It almost resembles a bullhorn pattern.
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