Thursday, December 16, 2010

A fresh higher high...

... not a big one, just one point above December 14th high but the idea is that bulls keep pushing the index higher. Volume on SPY is increasing and today has touched the 50 days SMA. DMI on the other hand has "cooled off" a little bit showing that momentum is not that bullish anymore. Once again price is above both EMAs on hourly chart. Market is at pre-Lehman level and as I said before from now on is going to be harder for the market to advance.

Dollar and gold moved down today but silver climbed a little bit.

I don't feel particularly venturous at this point, I took a small profit on TNA and try to play some individual stocks for the rest of the year. Individual stocks are riskier, of course, but I am moving very fast and have tight stops. I'll be back in ETFs next year.


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