$SPY $DIA $UVXY This has been an awesome Santa Claus Rally, it took the index to a record highs after the nightmare before Xmas. What's next? Since there are no straight lines in Wall St. a correction to retest support at the 2,700 levels is just about right. Right at this point in time it is bullish, extreme bullish conditions from the price point of view, but with both, a negative momentum divergence (higher levels with lower momentum) and a negative volume divergence (higher levels with lower volume). Still the VIX hasn't reacted, we have had very low volatility since November last year, but the VIX seems to have found a support, Oil has been consolidating and Gold has reached new 52W highs.
I don't expect the indexes to keep on unboundlessly growing, and getting "cheaper" prices to retry another push to the upside makes sense. Get ready and Good luck !
I don't expect the indexes to keep on unboundlessly growing, and getting "cheaper" prices to retry another push to the upside makes sense. Get ready and Good luck !