December 27th 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.