Markets held very steady last week.
No noticeable downturn was recorded in the previous Red Period, which suggests that the path of least resistance remains UP. I know it gets boring to repeat that over and over, but the stock market can be quite boring over long stretches until it takes everyone by surprise with a sudden move one way or the other.
We can only take it week by week, and sometimes the message the market is giving us does not change for weeks or months on end.
We are again in a Green Period now, but this will be a low volume shortened trading week, so I wouldn’t take on any new positions.
We are still near the same overhead resistance levels, so I wouldn’t be surprised if stocks move sideways this week.
Just let it be, and we will be back to normal market conditions in January.
Happy holidays to all, Danny