Santa Clause Rally????

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ES12072013Is this the Santa Clause Rally? Money is going into the technology and Finance sectors. The retail sector is probably the worse of the major sectors I follow. The overall market is very bullish thanks to the Fridays jobs report. With technology leading the charge I feel we are in for more upside. In the last post I noted the 1773 area is the level to look for a bounce and that is close to what happened. Going forward I think the most bullish scenario plays out which is a move to 1830 then to 1860 by the end of the month. As far as my swing trades go I am long with risk ADI and LLY. I picked up ADI this week. Long with no risk I have BAC, PRU and XLE. In summary Santa Clause Rally yes but not on the back of retail. Have a great week of trading.

Higher and Higher

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ES12022013Getting a little tricky here. I have a target of around 1860 by the end of the month. See if we have the push (volume) to get us there. I am looking for 1830 first. All of this is only if the 1773 area holds. If the 1773 area gives it up then look for the next level to hold 1727. I am still bullish this market. I entered one long position LLY last week. I am taking some heat on this trade for now. I am long with no risk on BAC PRU and XLE. December can be one of the most difficult months to trade. Look for retail to influence trading this month. So let’s see how it goes. Happy Trading.