There’s one more area of concern I have. It’s the housing market HGX. Have you taken 5 minutes to look at it? It’s been horrendous. But it has a chance to bounce being 61 days off its high. Friday’s action didn’t promote that condition but it gets one more chance on Monday. Just when people think the housing chart will be an absolute disaster it has the conditions to reverse just when people think it couldn’t possibly.
Is it challenging enough for you? Be careful these next 2 weeks with the light volume, it could be the lightest volume weeks of the year which is saying a lot considering Christmas. Some of the best trading might be on an intraday basis so don’t stay married to positions. Lock in your profits and move on. What I’ll be on the lookout for is sentiment and psychology as always. To this point everything I’ve been looking for has been fulfilled. Now I want to see if they will take it up one more time to get rid of the rest of the skeptics.