I’m being constantly reminded that my forecast of ATH’s in the $SPX to happen within the next two weeks is quickly approaching its deadline. 42 points. Two weeks. Possible? Probable? Let’s see how things look in the morning, but as you can see the last few weeks of price action have been consolidating for a decent sized move this week:
A few charts that I like this week include: $FB, $AAPL, $C, $BAC, $JPM, $WBAI, $ATHM, $DWRE, $UA, $PYPL, $RUBI, and $ZG. This is as far as I’ve planned the upcoming week.
We anticipated that the market would be flat last week due to the holiday, but think about the week prior and how critical that particular Monday morning was to trap the masses early, then squeeze them all week. I’m thinking this Monday might also be another decoy for how prices will trade this week. It’s too early to tell, but I’ll be paying close attention to the pulse in the first couple hours.
Hope it was a good holiday break. Let’s get back to work and close out the year on a monster run.
OA
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2011 – Know it, Learn it, Live it……
https://www.youtube.com/watch?v=P8E7_u2qgjE
If you run a correlation against the two analogues, your analogue was less than .6. Mine was much higher.
https://youtu.be/LUyv2W5dSGo
any thoughts on Oil?
For what?
I sold Half of my UWTI .. still has half .. thinking of dumping it .
What is your basis?
bearish ..
OPEC will not cut production .. Looks like they want to hard pull lower so that every body falls out .. It don’t strong opinion on either side ..
Basis = price.
If you are bearish, I wouldn’t hold $UWTI I suppose.
ISIS production looks to be incurring a cut, which makes me wonder if all these Saudi shenanigans have been in place to help mask the ISIS/Turkey oil that we now know has been increasingly flooding the market.With the ISIS oil jig getting wrecked (and w/ so many eyes now watching), maybe we’ll see our “friends” the Saudis go back to their old ways?
Bullish
Really like how solar is setting up here, think the $TAN rallies into year end.
Market is poised to rip tits to the upside this week. Let’s rock.
Hope a small dip first on Monday
MSFT breaking loose this AM on Raymond James upgrade. Looking for DJIA stocks to lead us higher.
This is significant
The International Monetary Fund is expected to grant China’s yuan reserve currency status at an executive board meeting today, in a decision that will elevate the renminbi and China’s influence in the global economy. The group’s benchmark currency basket, also known as special drawing rights, so far only contains the dollar, euro, pound and yen. While the decision is likely to be announced later today, the yuan will not officially become a reserve currency until September 2016
Picked up FB $108 weekly calls here
Nice battle here at $105 – seems there is a strong buyer defending that level..
I can feel the market on the verge of a major breakout. Charts are set up perfectly here on the daily and weekly. Not if…but when. Loaded with calls
If you were looking for a pullback…
Full speed toward the sun in orbital space cannon, son!!
The charts were screaming breakout last week. Smart $ positioned accordingly. The clue toget long was the massive reversal day from red to green That was the pivotal day.
You are quite excited….
Trolls get excited easily.
Look at AAPL! AAPL is a leading stock. Trying to find something bearish in the chart scans here and, well, there is nothing bearish at all. AAPL leading the charge.
Taking a page out of OA’s “fee the crowd” book……your enthusiasm is making me bearish. No offense.
**”Fade the crowd”. Im a moron, I know.
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