|
The bulls were able to make some progress during this short trading week. SPY gained almost 3% to close at $205.68. If you have been reading my writing for the past few months, you would have noticed that I have been bearish on stocks. For now the long-term bearish case remains alive and well. There is plenty of resistance in the $206-$208 area. This Christmas Eve’s action was notable for the fact that markets sold-off literally in the last 5 minutes of trading to close in the negative territory for the day. One could argue that a shooting star candlestick was printed on Friday. This was all on holiday volume though, so I would like to see more confirmation of resistance next week.Read rest of this post here
|
|
|
0 Comments
Leave a Reply. |
Archives
February 2017
|
RSS Feed