If Santa is truly going to visit this market before the end of the year, it is these kinds of plays like the one in Adobe (ADBE) below that I think will be at the forefront of winning plays for this market.
Even though this market has found every reason to sell-off nearly every day this month, and though ADBE hasn’t been entirely immune from it, it has nonetheless, held up better than the rest.
At the end of today, it is settling in right at the rising support level and I’m looking for it to bounce here and ride back toward the upper channel band.
But then again, maybe the Grinch ate Santa and this speculating of one more market bounce in 2016 is nothing but a bunch of hogwash.
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