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Gaining strength |
We had a nice and strong opening day for the new year.
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| Latest row is all green |
The MDM is looking good.
Technical Analysis (TA)
The S&P 500 closed above its 200 DMA.
We now have a series of higher highs and higher lows (Uptrend).
Inverse Head and Shoulders formation (Bullish pattern)
On the negative side, there was not much follow through
after the morning gap higher.
On the negative side, there was not much follow through
after the morning gap higher.
Special comments:
Our gold miners ETF performed very well yesterday. My timing could not have been better; we caught the move off the bottom almost perfectly.
Utilities were negative on Tuesday as the sentiment had turned to risk on. Utilities are priced to perfection. I will reduce our position a little.
I will buy a dip back to the 200 day moving average.
I will be taking an inverse position in small caps as a hedge. This is based on EV analysis (large player are not accumulating shares of IWM, small cap ETF).
This blog post does not constitute an offer of investment advice. This blog is only provided for educational purposes. Please read the Important Blog Disclosure posted in the right channel bar.
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