1:54pm
We are still in that trading range as you can see.. The XLF is still below it’s neckline but is about to hit it, JPM is way above it’s neckline and doesn’t seem like it wants to break down just yet. The SPY might be worth shorting at the top of the channel… and going long if it breaks the channel.
12:25am
Futures are now flat after being up for over 6 hours… I’m not sure where we’re going to go tomorrow, but my inclination is that even though the bulls managed to push us up to cancel thursdays breakdown, the bears might step back in and break it down again forcefully. Monday could be a bad day even though nothing justifies it for being a bad day. You can either take bullish or bearish sides at this point (as shown in my video). Just make sure, when you do… that you know where the critical levels are, and put a stop that is relatively tight.
Again futures are where they were this time last night. I look to see tomorrow to be a continuation of the “Christmas Rally” for the rest of this short week. I would not be short in anything. Long and strong till next week. Hope everyone has a Merry Christmas and GLTY.
Yeah but with any luck we’ll open down a little and then climb. Most difficult trade day for me is when we open way the H— up and never retrace.