Market Outlook

Quote from newwurldmn:

+1

I think he suffers from delusions of granduer. He demands no one copy his analysis. He doesn't feel the need to explain his calls. He doesn't feel the need to even answer questions regarding his calls.

If he were more intellectually honest, he would have done these things and been smarter for it.
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:D
 
Thoughts on daily chart.

ndx, comp are still in a large wedge formation. spx could be a large bull flag set up. dj is approaching its highs for the last 6 months. 200 dma's are serving as resistance. If dj30 and spx break the recent highs spx 1300 is likely the next stop. Long term trend is still down, but that could be changing.

Anyone want to chime in and possibly make this thread of use?
 
Guess I'd like to know if anyone is seeing a selloff by the end of the day? I followed Grand's advice and left my in the money SPX 1245 weekly short calls on the table. And with a little over 3 hours to go, I need to leave town to do some xmas shopping. My SPX 1260 weekly short calls have just moved into the money as well. If Grand's retracement doesn't happen soon like he claimed, then he will have cost me a good chunk of my portfolio again. Live and learn. I suppose Grand is laughing at anyone who is listening to him.
 
Quote from EliteThink:

Thoughts on daily chart.

ndx, comp are still in a large wedge formation. spx could be a large bull flag set up. dj is approaching its highs for the last 6 months. 200 dma's are serving as resistance. If dj30 and spx break the recent highs spx 1300 is likely the next stop. Long term trend is still down, but that could be changing.

Anyone want to chime in and possibly make this thread of use?
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I think we rally next week. I am positioned long. I think there is huge incentive to mark the close this year. (That's the extent of my technical analysis knowledge).
 
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