Thursday, December 15th, 2016

Market trying to make new highs


We are about to take out 2007 highs. After a scary job report last Friday bulls are back with solid push to the upside as you can see in the indexes. The job report was bad overall, but the Feds are on the side of bulls. The printing presses are running overtime and the QE4 or whatever the new name is in full swing pumping liquidity in the markets. SPX, RUT and DJI all experienced a bullish ride today.  Bad news is being shrugged off and passed as good news. When ever there is a pullback or down move its remains shallow and met with consistent buying all this year.

GOOG remains stuck right above its long trem trend line unable to move higher. The stock action is now disjointed with the general market. LNKD made a head fake to the upside but was overcome quickly and doused to the downside. AAPL remains as a bottom dweller and the broken stock and chart is now considered a buy by some.

Overall market and price action has been bullish so far this week.

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