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