Bears will need higher volatility and weaker retail stocks and utilities next week if they expect to growl. Commodities rallied last week helping to maintain buoyancy in the stock market.
Note how the market makers came in and jammed UTIL higher during the Friday session, 10 points intraday, to the 856.85 closing print. Do you think the utes are important? The bulls know they have to prevent any failure in utilities to maintain the upside stock market happiness. This is how the cat and mouse game is played.
The key bull-bear line in the sand number for next week is UTIL 848.30. If UTIL 848-ish fails, the stock market will be rolling over and starting to fall apart. The bulls are fine and worry-free enjoying an elevated stock market as long as UTIL remains above 848-ish next week. The stock market is very erratic and unstable currently.
The key bull-bear line in the sand number for next week is UTIL 848.30. If UTIL 848-ish fails, the stock market will be rolling over and starting to fall apart. The bulls are fine and worry-free enjoying an elevated stock market as long as UTIL remains above 848-ish next week. The stock market is very erratic and unstable currently.
12/15/19;
7:00 PM EST =
12/11/19;
3:59 PM EST = +88; signal line is +52
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