The holiday week and the chopped up trading week will more than likely see very low volume. This would make a major reversal in the market very unlikely. As illustrated in Today’s trading, the initial bullish trading quickly disappeared, bringing the market indexes back down to a relatively flat trading range. Numerous stocks are trading positive Today after an extended downtrend but they are currently trading well off their highs. The low-volume trading still requires a candlestick reversal signal that is very compelling to want to change from a short bias in the portfolio to a long position. Stay predominantly short. Gold stocks continue to act well on the bullish side.
December 26th Daily Market Comments
The holiday week and the chopped up trading week will more than likely see very low volume. This would make a major reversal in the market very unlikely. As illustrated in Today’s trading, the initial bullish trading quickly disappeared, bringing the market indexes back down to a relatively flat trading range. Numerous stocks are trading positive Today after an extended downtrend but they are currently trading well off their highs. The low-volume trading still requires a candlestick reversal signal that is very compelling to want to change from a short bias in the portfolio to a long position. Stay predominantly short. Gold stocks continue to act well on the bullish side.