• Comments for Decxember 19, 2017

    The market is cruising to a record gain for 2017. This is all that matters to fund managers who just want to lock in gains by December 31. Hence, the rally has only one way to go for now.

    The 20DMF still looks weak and the Cumulative Tick was not showing a strong trend support yesterday, but that is basically irrelevant here.



    The NQ8 and NQ100 attracted money yesterday and we can see below that the S&P500 is still being pushed higher by the largest caps.





    Index investors look uninterested into buying higher prices here.



    On a side story, both oil and Natgas still look weak.



    In terms of currencies, the US$/Euro seems to be bought.



    Conclusions:

    Markets are cruising higher so that funds can book profits by the end of the year.
    I suspect that we will get a sell-the-news type of event on the tax bill passing day.

    Note: The EV database is not fully updated yet. Will take another 1.5 hours from now