Pageviews past week

Wednesday, December 16, 2015

Moving higher after the Fed as the Dow rallied 224 points on heavy volume.  The advance/declines were 5 to 1 positive.  The summation index is trying to turn around here and it should be successful.  The McClellan oscillator is bouncing from a very oversold level.  The short term technical indicators for the major indices are moving to the upside.  Declines can be bought.  Weakness Monday should have been bought but it is always easy looking back.  That was simply another missed opportunity by me.  GE took off today as well.  It gained 2/3 on heavy volume.  We are finally getting a resolution to the contracted Bollinger Bands and it is to the upside.  Another missed trade there for me.  Gold rose $10 and the US dollar was higher as well.  The XAU rose 2 points and GDX added 1/2.  Volume picked up going higher.  Mentally I'm feeling OK but obviously not happy about missing out on this weeks rise.  And there's 2 days to go in the December option cycle.  The TRAN had a big day to the plus side as well, so that means that what we are seeing here is for real.  If the market gives us a chance to get long that is the strategy I suggest.  The Fed is now out of the way.  We'll see the summation index turn around in the next couple of sessions.  So all systems are looking like higher prices are in the future.  We should see the foreign markets rally overnight.  So for now we'll wait for a pullback if one occurs and try to get some SPY January calls.

No comments: