Dec 21

Weekend Outlook for 22th December 2014

Merry Xmas to everyone this week. It will be holiday week and usually its very bullish for mkts.

Seasonality is also very strong so that might fit well for mkts to remain strong.

This week I would expect us to be strong early in the week, but after some early gains likely late week after xmas to be more bearish.

NYA got a possible massive IHS pattern , if true we are start of large rally higher from here into January.

Oil looks like bottomed short term and I think we could test MA50 in near future around 70s. However short term target is 64$ per barrel.

Gold need a break above 1240 to confirm this is start of new bull market. So we need Gold soon to push higher and break this zone.

NYSI suggesting to short mkts and sell , it is still on a sell signal.

Conclusion: With all the bullish seasonalities its hard to see how mkts can fall from here. I would think mkts likely to remain strong into year end and IF this NYA pattern is an IHS setup , then we are likely to see a major rally higher. However the voilatility lately been wild up and down. For me i’m only playing stocks/sectors oil for now and not trying to short mkts in a strong seasonal environment.

Merry Xmas to everyone !


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