Looks like we are going through a flat Red Period.
Stock are clearly hesitating near the resistance levels we posted in previous weeks, but the market refuses to go down.
We could see some further weakness this week, as we remain in a Red Period, but I would use any down days to lighten up on short positions if you took any.
Next week and early 2011 will come under a Green Period, so we are likely to get some Santa rally and new highs for this move in the first week of next year.
What comes next will be another question.
Happy holidays to all, Danny
Like this:
Like Loading...
This entry was posted on December 20, 2010 at 3:09 pm and is filed under Market Commentary.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
LunaticTrader
Outlook December 20
Posted by Danny on December 20, 2010
Looks like we are going through a flat Red Period.
Stock are clearly hesitating near the resistance levels we posted in previous weeks, but the market refuses to go down.
We could see some further weakness this week, as we remain in a Red Period, but I would use any down days to lighten up on short positions if you took any.
Next week and early 2011 will come under a Green Period, so we are likely to get some Santa rally and new highs for this move in the first week of next year.
What comes next will be another question.
Happy holidays to all, Danny
Share this:
Like this:
This entry was posted on December 20, 2010 at 3:09 pm and is filed under Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.