Today was considered the start to the infamous Santa Rally for the stock market. Let’s just say, that the start came and went, and nothing significant really materialized.
The infamous, Wall Street “Santa-Rally” commences tomorrow, and lasts through the first two trading sessions of the new year. It isn’t fool proof, but history, has dubbed this one of the more bullish periods of trading for the stock market.
I don’t typically put the trades that I make in the Splash Zone for the public to see on the same day, but I’m feeling that Christmas spririt today, and thought I’d share.
Yes, I am still compiling my bearish watch-list each and every week, and rarely has there been a day in the past year, where it has come in use. Nonetheless, I remain vigilent in its preparation and once again, I provide it to you in one of the most bullish months of the year .
Even with a huge rally on Friday, the bulls aren’t done just yet. This was seen quite clearly on the SharePlanner Reversal Indicator reading as well, showing the market still had plenty of upside left in it.
If you glance at the indices, you wouldn’t realize the market is actually fairing poorly today. Breadth is actually negative VIX is trading 3.5% higher The percentage of stocks trading above their 40-day moving average is declining. Technology is trading lower Small Caps are in the red
The bulls are trying to do things a bit differently this week, by actually starting the week off with a rally. The last two weeks have provided some shaky starts to their respective trading weeks, but today, the market is quietly building on its gains from the previous two trading sessions and sits once again
The last few days have not been the best of days for the market. Volatility is perking its head up some, and the technology sector, which has been the market leader for all of 2017, has shown signs of profit taking over the past week.
Bullish trade setups to start December Friday stunk with ABC's erroneous news report that dropped the Dow nearly 400 points in just a few minutes, and then today you had the huge gap higher, which gave everyone warm and fuzzy feelings all around, only to see the market sell off the hype and in particular
The key word is "watching", because I haven't pulled the trigger on any of them. And with the market rallying hard today, what incentive is there to trade any of them at this moment? Instead, as has been the case for nearly all of 2017, I will continue to watch these setups, and only short