Monday Dec 23, 2013
In the face of nominal taper by the Fed, the markets continue to March ahead. There may be seling in stocks which are down because of Tax Selling.Markets usually are bullish in the last two weeks of the year and the start of the New Year. Sold out stocks will start rising in the New Year. That includes sold out Gold Miners. Volume was heavy on Friday because of Option expiration.
Let us look at the charts:
DJI Making New Highs
SPY Making New Highs
NASDAQ Making New Highs
IWM Russell 2000 ETF New Highs
TZA Will make new lows. We gave a sell signal on Dec 13
TNA
GLD No Buy Signal Yet. Gold made a double bottom around $1182 on Thursday. Weakening today
GDX
NUGT
DUST
US Dollar Index is Weakening today
In the face of nominal taper by the Fed, the markets continue to March ahead. There may be seling in stocks which are down because of Tax Selling.Markets usually are bullish in the last two weeks of the year and the start of the New Year. Sold out stocks will start rising in the New Year. That includes sold out Gold Miners. Volume was heavy on Friday because of Option expiration.
Let us look at the charts:
DJI Making New Highs
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