Markets gapped up Monday and slowy faded the day. News and rumors running this market. Trading on price action is the way to go, not lagging inidicators. I continue to watch supports, pivots, and resistances. As well as the volume at price indicator... Below are a couple leveraged etfs Im gonna watch tommorrow more closely than others, becasue I found them to be cleanest...which i've come to conclude easiest to read and usually run better then the rest. Both Long and short set ups, depending which way market goes. I also drew some trendlines which are important too.
We could very well chop around these levels in market on Tuesday, just because of the triple digit moves recently..
Remember$$ - Up channels like to break down. Down channels like to break up. ; ]
Short charts
Here is the $VIX. THe $VIX is starting to coil its price Starting with the big ranges of $24 and $38 range. Now its starting to stay waithin $31-$36.. THe $VIX day looks like a bear flag in a bull flag..Santa rally possible, then a pullback after new year?...
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