12:25
Unknown
TAPE has been struggling with overbought conditions & have been successful in keeping all its gains. We have been UP for four straight weeks.
This week is option expiry for weekly & monthly options, generally this brings volatility.
Fed minutes will be released on Wednesday which triggers language based reaction.
Consumer is feeling pretty happy @ 89.4% confidence readings.
Bulls @ 54.6%
Bears @ 15.1%
Bull bear ratio is yet to hit extreme reading of 60% in bulls.
Momentum is slowing & money managers have allocated funds to equities.
We may have a go nowhere market this week, IF we pull back we have a strong support in 2000 area in S&P 500.
Many sectors and stocks are working against all odds, AAPL, SWIR, BBRY,AMZN,MA to name a few are showing strength.
Gold,Silver, Uranium have broken resistance and are moving higher nicely.GLD has broken out and GDX is ready to do the same.
Seasonally we are in a strong couple of months.
@ worst, option expiry & Fed minute may put some pressure on the TAPE, but we may find willing buyers on any weakness.
Looking ahead to Christmas related buying & low low gas prices, we may be ready to reward investors & traders.
Good luck with your strategy !
BLOG does NOT give buy or sell.
Saleem
This week is option expiry for weekly & monthly options, generally this brings volatility.
Fed minutes will be released on Wednesday which triggers language based reaction.
Consumer is feeling pretty happy @ 89.4% confidence readings.
Bulls @ 54.6%
Bears @ 15.1%
Bull bear ratio is yet to hit extreme reading of 60% in bulls.
Momentum is slowing & money managers have allocated funds to equities.
We may have a go nowhere market this week, IF we pull back we have a strong support in 2000 area in S&P 500.
Many sectors and stocks are working against all odds, AAPL, SWIR, BBRY,AMZN,MA to name a few are showing strength.
Gold,Silver, Uranium have broken resistance and are moving higher nicely.GLD has broken out and GDX is ready to do the same.
Seasonally we are in a strong couple of months.
@ worst, option expiry & Fed minute may put some pressure on the TAPE, but we may find willing buyers on any weakness.
Looking ahead to Christmas related buying & low low gas prices, we may be ready to reward investors & traders.
Good luck with your strategy !
BLOG does NOT give buy or sell.
Saleem
Posted in: Mixed
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