Dec 27

Weekend Outlook for 29th December 2014 – Happy new year 2015 !

Markets has been following the seasonality very well here in December by being weak into mid December and after this we have seen a sharp rally higher , and if seasonality stands true we could still grind higher into year end and into January.

1. SPX short term overbought however we have a potential near term target at 2120 before a small pullback – after this we should get another move higher into possible late January before we see a much larger correction start in mkts. Until then safe as long we stay above MA50 bulls should be good – play sectors/stocks

2. Oil looks like going to have one more leg down this week before bottoming , watch potential bullish RSI and MACD with a new move to possible 50-52 area on oil. This should be bought long imo

3. Gold looks like started a new bull market finally , we need however a confirmation above trendline from 2012 top around 1220-1240 Gold , if we get this into new year that would be perfect(next week)

4. NYSI still on a sell signal telling us cautious , however it looks like it might start to turn to a bullish cross soon

5. Seasonality is strong at least into mid January , I find it hard to see a huge correction before this , so bulls should do ok as long MA50 holds.

6. NYA has a possible large IHS pattern target 12.000+ this would then be the target before this uptrend ends.


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