Today was a very good and powerful day for the indexes. I'm calling the breakout on the SNP 500. This should lead to more follow through buying next week.
As you can see on the above chart, SPY finally popped above that little red line which had been like a brick wall for over 2 months now. It is okay to buy stocks here and I will probably do some on Monday.
Strong earnings from MCD propelled it's shares higher by almost 4% today to an all time closing high.
MCD had also been consolidating in a range for awhile and has broken above it. It is okay to buy this breakout on MCD as well.
My gold trade is working out so far as we had a textbook bounce off trendline support and the long term bull market support level of the 150 day moving average yesterday and more follow through buying today.
15.65 is a strong support level and is a good place to buy.
All in all, not a bad day in the markets. It looks like we are shaping up to have a nice end of the year rally. It is time to start buying.
Disclaimer: Nothing in this blog should be construed as a recommendation to buy or sell any securities! Please do your own due dilligence before buying any stocks or bonds!
looking good so far
ReplyDeleteFinally a positive vote.
ReplyDeletei'll take your advice i have a friend working on this stuff thanks for the information max
ReplyDeleteYay! Good!
ReplyDeleteGood news. (:
ReplyDeleteI was about to take your advice and do some buying, but then I read the disclaimer and now I don't know what to do :(
ReplyDeleteThis is great news for me. I'm considering actually looking into buying some stocks for the first time although far away international trading fees may dingle me!
ReplyDeleteThis is probably the dumbest comment you're ever going to get, but...those charts look really complicated.
ReplyDeleteI am impressed.
thanks for advice :)
ReplyDeletewill know. also it looks like needles for some reason :D
ReplyDeleteWell maybe I'll be buying more stocks but we'll have to see how things are like next week.
ReplyDeleteit may be interesting so far!! :)
ReplyDeleteInternet is down? That is indeed some frightening news you got there... Nah, just kidding you.
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