Thursday, November 20, 2014

Riding the Ledge...11.20.14

The indices continue to hug overhead resistance with various sectors alternately ebbing and flowing above and below that ledge.  With Thanksgiving coming up next shortened trading week we can historically expect low volume and a bullish push as the professional short sellers typically take time off.  Then we have the end of month push the following week, so from a purely momentum perspective the odds favor the bulls.....maybe not a big surge but the odds for a significant fade down are low.....unless a new Israeli war, ISIS gets really feisty, Putin invades the Ukraine, etc.... news will trump the pacifying effect of turkey endorphins.
For now M3 still loves UPRO (expecting a possible switch to XIV) and everything is rosy.