Weekly preview - The Santa Float SPX USOIL GOLD SILVER Yields
All in the video. They had a chance to break SPX down today but failed to do so. A santa float up into 4600+ is likely to take out stops and meet with the weekly BB around 4650. This should set up further buying for the trashy stocks (companies in debt and having no profits to speak of). Oil may find some buyers here but right now I wouldn't touch it. Gold looks like a reversal but silver looks worse. I mention the gold/silver ratio - worth watching if you are into trading metals and miners. On Yields, the rsi is as low as it usually gets but no signs of a reversal. I don't think much happens until after Christmas and new years except in the most beaten down sectors.
have a good weekend
have a good weekend
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we are now entering the zone where stops should be, I think it goes higher into FOMC on Wednesday. We are now having daily bearish divergence and bulls have to be cautious, although higher still looks probable on the 4 hr rsi.
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4hr chart -
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float up continues, we have a lot of economic data this week, so a final spike may happen, we'll see CPI tomorrow.
us.econoday.com/byweek
us.econoday.com/byweek
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Dow futures hit an alert today. I don't look at it often but it has this possible target directly above.
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no change from overnight, the santa float continues. I expect a spike up with CPI, but the possibility of a reversal is on the table. RSI looks like it will go higher, but no guarantees.
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No guarantees, but I still think this will go higher.
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4 hr needs to reach overbought levels, maybe tomorrow before FOMC I don't know.
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soxx looks like it will reach 460 on this run up.
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weekly bb is 468 on spy, we get there or get close.
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good morning, float up continues into FOMC at 2pm. 4hr rsi almost to extreme zone, but not yet. A spike above 4700 is still possible.
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dow futures inside target zone - note the extreme readings on the daily RSI here.
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latest update www.tradingview.com/...ade-SPX-DJI-NDX-IWM/
Iwm may show strength to get to it's gap.