It was a wonderful start, a nice gap, and price has maintained its upward posture so far. Breadth measures that are available intraday look really good. Volume, however, is not all that earth shattering.
Bond markets are closed. But if TLT's pathetic action is any indication, yields may be on the rise.
Gold is being sold off nicely, indicating some scared money is coming out of safe havens.
We need a strong finish, we need above average volume, we need positive breadth on all measures. We need tomorrow to open strong and hold strong. Then, chances of an election rally will increase. I did a small trade on the long side, and was pleased that it rose, and rose.
Today's our Thanksgiving Day in Canada, so I'll just take 3/4 profit, set a trailing stop, and go for the turkey afternoon.
It's my birthday tomorrow. Let's see if Mama Market has a present for me or not.
S&P 500 – May 15, 2012 - Bottom Line: Long term trend is up. Mid-term trend is down. Short-term trend is down Weekly S&P stage is Late Advance (2-C) Daily S&P stage is Strong Decli...
1 year ago