Friday, December 20, 2019

Market Update 12/20/2019 - The breakouts continue

RE: The fake impeachment of Donald J. Trump. As it turns out Pelosi isn't even going to bring the articles of impeachment to the Senate. There is no impeachment, only a fraud perpetrated in the peoples house (of representatives). A PsyOp designed to slander the POTUS, and pacify the radical base. I have to wonder how the radicals are going to react, once they realize they've been conned? At least, I think, the backlash won't come until Election night... if the election isn't cancelled before then.   

RE: The market

The trend remains up, and it looks like the bulls are going to win this OPEX

Looks like the DOW is going to breakout this morning, and if this continues, we could see Dow 29k by year end.

$DJIA - new Dow chart. See where it's been sold at the thin pink line, for the past several days. Watch for the next breakout there. I'll add this chart to the PC area this morning. The trend - seen in blue - is your friend, as long as the $VIX remains low. Looks like the DOW is going to breakout this morning, and if this continues, we could see Dow 29k by year end.




This morning I'm looking at some ETF's which have already broken out.
Apparently money rotates in an out of these funds, like $SPLV, which I recently pointed out... but I want to draw attention to 2 NYSE Arca ETFs, $IJR, and the $PSE. 

$IJR - small-caps Clear breakout. MACD reverses to the upside. RSI rising


You would think the $RUT would also be breaking out, but the holdings in the above fund are switched out regularly. I've listed the top 10 holding at the bottom of the chart, and I can give you 1 *example below. I think the above fund would be a good hedge, against a $RUT short, actually, or use the $RUT bear as protection, on an a long position in $IJR. 

*$MDCO - Medicines co

The other NYSE Arch ETF I'm been tracking for a lone time, is the $PSE (technology)

$PSE 20 year chart. Sitting above my upper blue channel line, or stophunt, depending on how you look at it. This could remain above that level, as profits are taken, over the next several months, until they decide to pull the trap door.

 
Saw a reversal in Oil overnight, at the $61, but that's probably not going to move much on this rigged OPEX.

$NDX - Seeing an upside target of 8675, followed downside gap fill target at 8480. 


That's about all I got today.
Have a great weekend,
AA




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