12/19/16 Close

The indices closed in the green with the SPY and XLF completing a bull flag pattern. I fully expect some good upside tomorrow.

It was JDST that popped higher today as GDXJ sold off to new lows. Gold closed in the green, but I think it just finished a wave iv corrective pattern, dead-cat bounce and I expect downside tomorrow.

Nat gas, UNG and CHK closed in the green and are looking somewhat positive. I am cautiously optimistic we might see upside tomorrow. We had a 2.5 million share size print on DGAZ at 4.26 and we closed below. That looks like it may be bullish for nat gas tomorrow.

I think a lot of traders have already gone on holiday, so I will send you my holiday wishes! Happy Holidays! Tomorrow I will be hopping on a plane with family to San Diego, but will monitor the markets in the morning, then by mobile, and then again from the hotel.

Leave a comment