Stocks continue to trade inside an end of year utopia and I think we’re going to see at least two more days of that. Let’s review some of the charts that should perform the best should we remain in that environment and my plan as we move into 2020.
I’m looking for this melt-up to last into Dec 31, and then this is what I’m doing next.
If you are looking for rationality, you are looking in the wrong place. Here’s how to play it.
Yen weakness today confirmed equities strength, and when breaches fire to the upside for the ES and NQ, not only do these markets become better bullish plays, there are currency pairs that are also going to be offering setups.
The window dressing rally as we head towards the end of the year should not be ignored as the low volume we’ll see through the remainder of this week. The long side of the equity and equity index markets are still the path of least resistance; just be sure to focus on the double greens.
LULU has been one of our favorite stocks to trade this year, and it looks like it wants to break out and head for a $240 price target. This is how I’m trading it.
The market softened up ever so slightly today, but I view that more as a function of low volume than anything more substantial. Let’s talk about our plan for Thursday, and some of our favorite tickers we are watching: TSLA, RH, WMT, DIS, LMT, LULU, ISRG, and more. Have a very happy holiday season, and remember we will see you in the trading room on Thursday!
After a lot of patience along oversold support levels, gold is rallying, and so the next stage of this trade is what are the upside expectations for the long position and how do we measure that?
