Stocks

$SPX Weekly Outlook : Neutral $QQQ $IWM $DJI

There is no sugar coating this rally off the lows when the plunge protection team stepped in on the night of Christmas Eve. This has been vicious and the BEST January start to the market all time (which is a very long time).

You have to be respectful of the rate of change in this increase off the lows. I am fairly certain that we are approaching an area where we should see 1 of 2 things. 1. A substantial pullback at least into the 2540 SPX area or even lower to continue the bear. OR 2. Some sideways action that will allow some digestion and continuation above the 200 day MA. The market is in a serious WAIT and WATCH mode as no team is winning anymore. This is quite the “Fumble” by the bears and we will have to see what goes on next week.

Currently I am short the QQQ as of Thursday Close. We will see how this fits in the coming days and weeks.

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