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Saturday, December 20, 2014 6:25:26 AM
STTG Market Recap Dec 19, 2014
Today’s video recap can be found here.
http://ticker.tv/mark333/5494bbfac9f9092a30000001
Indexes followed up 2 very strong days with the type of action bulls will enjoy – a very constructive 3rd day. What we did not want to see today is a big drop and even a flat or small drop would have been more than fine as we try to “digest” the previous 48 hours. So a move to the upside was a big positive. Stocks gapped up a bit at the open and never really went negative all session. The S&P 500 gained 0.46% and the NASDAQ 0.36%. This was the biggest 3 day surge since November 2011 – thanks Janet Yellen aka Santa Claus.
After dropping BELOW the 100 day moving average just days ago, the S&P 500 is already almost back to all time highs. An amazing move. And why it is nearly impossible to short the QE market for any length of time! We might hit some resistance here in the next few days as the S&P 500 and NASDAQ are approaching old highs but if this is just another “V shaped” move it will be moot soon enough.
more http://www.stocktradingtogo.com/2014/12/19/sttg-market-recap-dec-19-2014/
Today’s video recap can be found here.
http://ticker.tv/mark333/5494bbfac9f9092a30000001
Indexes followed up 2 very strong days with the type of action bulls will enjoy – a very constructive 3rd day. What we did not want to see today is a big drop and even a flat or small drop would have been more than fine as we try to “digest” the previous 48 hours. So a move to the upside was a big positive. Stocks gapped up a bit at the open and never really went negative all session. The S&P 500 gained 0.46% and the NASDAQ 0.36%. This was the biggest 3 day surge since November 2011 – thanks Janet Yellen aka Santa Claus.
After dropping BELOW the 100 day moving average just days ago, the S&P 500 is already almost back to all time highs. An amazing move. And why it is nearly impossible to short the QE market for any length of time! We might hit some resistance here in the next few days as the S&P 500 and NASDAQ are approaching old highs but if this is just another “V shaped” move it will be moot soon enough.
more http://www.stocktradingtogo.com/2014/12/19/sttg-market-recap-dec-19-2014/
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