This week the bullish narrative continued to drive the markets higher and with only 2 trading days left in the calendar year, it looks like we’ll be closing out the year near the all-time highs.
As I’ve been stating over the past couple of months the SPY, DIA, and QQQ are all trading “momentum and up” on the monthly charts so until the momentum is extinguished – short at your peril.
Remember the saying, “being early is the same as being wrong”.
In this week’s video, I examine the major US indices to see how far this rally can go as well as examine one of my favorite market internals indicators to see if and when we can expect a reversal.
As the year comes to an end I just want to express my thanks and gratitude to everyone who tunes in to the videos and blog.
Happy New Year and here’s to a meaningful and prosperous 2020!
Watch this week’s Weekly Outlook video to see the setups and levels we’ll be watching as well as the technical outlook for the VXX SPY QQQ IWM DIA EEM TSX TLT GLD BTCUSD ETHUSD EEM and more for the week of Weekly Market Outlook For – December 30 – January 3, 2020.
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