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Friday was a Mini victory if you ask me, and I'll tell you why after a brief update of the markets. So far The SPX, Q's and Dow acted just as I thought they would, they have dropped after making new highs (QQQ was likely not going to make new highs, and it didnt ). DEC 30 - I posted this that I'd be watching the QQQ's at the 10sma, it looked weak.
Well, it broke right through the 10sma by the end of Dec 31, so what now? All doom & gloom from here?
Read More 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 ...
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