Calling It A Week

Counter moves across the board today – we are seeing sharp spikes on bonds, forex, some of the futures as well, particularly in gold and natgas has been going wild all week. Strangely equities remain unfazed and we are slowly pushing into new territory. Not the pre-Santa-Rally-shake-out I was expecting by now but as you probably know I’m not complaining as my long positions continue to glow bright green.

What’s more interesting however is that the dynamics are slowly shifting now. Look at those Bollingers – I use the 100 and the 25 mostly, although it’s just my personal lens and pretty much any combo between a 25 and a 200 will provide you with some context to make sense out the daily gyrations.

Now both of mine are starting to swing higher and that is very positive in that upward resistance is slowly softening day by day. It really doesn’t matter if we get a correction now or next week – most likely it’ll bounce either at 2000 or at 1960 if worse comes to worst. But going forward any push higher will enjoy wide open spaces – and that means I’ll be looking for buying opportunities as soon as I am stopped out of my existing longs (whenever that happens). FYI – I am now advancing my stops to the most recent spike low which is near 1995.

And that’s pretty much all I have for today. No new setups I would feel comfortable with before the weekend, so let’s call it a week, grab a cold one, and reconvene on Monday.

Prrrost!