Wednesday, December 23, 2015
Merry Christmas! (and SPX Update)
There's no material change to the outlook since last update, except to note that SPX may be following the complex flat path... the first meaningful resistance hurdle to this path is 2055-60 (inflection point noted with black "bear ii"). If SPX clears that, then the zone around 2076 becomes the lone remaining hurdle to the (b) shown below.
Of course, in the event that SPX could sustain a breakout over the all-time high (unlikely to happen in the next two sessions, of course), then we'd need to revisit everything.
Beyond that, Christmas is almost upon us, and it's become something of a tradition to link to a piece I first published a couple Christmases ago, titled: A Christmas Story -- Reflections on What Matters. If you're looking for something that goes a bit beyond the market, it might be worth a read.
I wish all of my readers a happy and safe holiday, and would also like to thank you for, quite frankly, being among the best darn readers on the planet. I haven't been keeping up on my thank-yous lately, but I greatly appreciate those of you who have taken a moment (or several moments -- you know who you are) to send something my way.
If I may be so bold this holiday season, I'd also like to remind traders (particularly the Type A personalities among us -- yours truly included) that it's easy to get so wrapped up in the day-to-day market grind that we can sometimes lose sight of what it is we're trying to accomplish, and what it is we're actually providing to our families. Sometimes a few hours of our time and attention, and a few small kindnesses, can mean so much more to the people in our lives than that next winning trade might.
I'll leave it at that.
All the best to you and yours this holiday. And, of course, trade (and drive!) safe.
Posted by PretzelLogic at 4:20 AM