Hi folks – still here in the tundra of Sun Valley and as I have mentioned before, we will be ringing the New Year in here – returning on Jan 5 for regular trading setups and hours. Many are looking for a Santa Rally but between volume and momentum at this time, it just seems like a coin toss. Attached below are the economic releases, we see the primary indices for the week ahead. Certainly, a break above resistance is not something to immediately short but if we lose the breakout levels, we simply do not seem to have the momentum and strength to continue higher at this time.
My updates this week will be in the evening – trade with smaller sizes as there are enough folks suggesting 5 sigma moves that we should at least be cautious.
As far as swing positions, I will not be adding exposure until the price action is better resolved
Here is what the week of economic releases look like-
Our trading levels for the week are below