Good morning. Happy Wednesday.
We entered this week with the trend being up and all the indexes at their highs. So far nothing has happened to change that, but nothing has happened to reinforce it either. The market hasn’t moved much this week and volume has been light. We’ve had many stocks move to their targets but not much in terms of new traders. Such is the life of a trader during this week.
The Asian/Pacific markets closed mixed today – China gained 1.6%. Europe is down across the board – losses are moderate. Futures here in the States suggest a gap down open for the cash market.
Here’s the daily S&P. Not exactly an exciting and energetic breakout. We haven’t gotten much follow through or separation from resistance and volume has been nonexistent. I see a big move coming soon. We either get an hysterical squeeze up or a stiff correction.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers
0 thoughts on “Before the Open (Dec 30)”
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“I see a big move coming soon. We either get an hysterical squeeze up or a stiff correction.”
I could not agree more but I don’t want to bet either way.
I wouldn’t be surprised to see a fake move in one direction and then the real move. 🙂