Gains this week

Nice gains this week but doesn't change too much the general view. Long term remains bullish with SPX making a nice higher low on weekly chart. The question is if it's going to make a fresh higher high, somewhere in the 1,900-1,930 area.

Nasdaq continues to be the most negative index. It made a clear lower low on weekly chart. Let's see if it makes another lower low! That's very important.

So it's a mixed view with SPX making higher lows and Nasdaq making lower lows. Who will win in the end?

I would be happy with a correction here followed by another leg up. Corrections come and go, but the general view, the long term term is bullish even for Nasdaq.


Meantime I think we can make some money with options. Look at this YouTube video where I am talking about options on DIA, the ETF that tracks the Dow 30.

Enjoy!

babaro

Correction has started...

... at least Nasdaq and Russell 2000 say this. SPX still looks OK but next week it may go into bearish territory as well. I just loaded this video.

babaro

I'm back... sort of...

Haven't been on this blog for a long time due to personal issues. I feel better now but I am going to make more YouTube videos than posting here. My kid challenged me! He said he is going to have more visitors than me :) He is probably be right since most of the people reading this blog are not going to come back due to my lack of activity.

Overall I think market remains bullish long term but here we may see a decent correction. We didn't have a real correction in more than 17 months!!!! This is the longest rally since March 2009.

Have a look at this YouTube video I posted a few days ago. I will probably make another one tomorrow, to summarize this week market action. Enjoy.

babaro