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During times of low liquidity, it's easy to rock these boats back & forth , but it's not always easy to get them sailing smoothly in the intended direction. When the tide rises , or the flow of liquidity returns, however, they can begin a journey of smoother sailing . During weeks of holiday trading, its similar in the markets. low liquidity can cause volatility and rock things back and forth, but it's not always clear which direction things really want to flow.
Today is January 2, and it's the first trading day of 2015, but I'm not so sure that the liquidity will return until next week. Until then ,we may have more volatility and things may not look very clear, but there are some interesting developments to look at. As I write (Pre-Mkt) Futures are up nicely for the DOW, SPX, and NASDAQ, while GOLD shot down to $1169 , Silver is down .10 , and OIL has dropped to new lows. The $USD is again strong, up to $90.85! I still think next week will clarify the true direction of these markets, but notice this...
The dollar is at new highs in Pre-Mkt at almost $91., yet Even with the continued Dollar strength...
Read MoreJust a quick run through since we have just 1 trading day left in 2014 and it 'Should Be' a light volume day , since many will be leaving early to prepare for any evening activities. I'll start with QQQ. I posted his chart yesterday and said it looked like we could are stalling and could begin to pullback...
This is what happened Tuesday ...
Read MoreWhen I think about the markets right now, it is Dec 30and we have 2 full days left for the markets to trade in 2014. I'm thinking that we are seeing a little hot air balloon action, where things just keep floating higher on light volume. Maybe people dont want to sell now and have to pay taxes this year on their recent gains, but what will they do in January when they can take some profits and not have to pay taxes on their gains until 2016? Will they lock in some gains?
Lets take a look at the SPX
Notice how we hit that upper trend line this summer in JUNE and just rode it higher for a couple of months, will we do that here? ...
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