Thursday, December 26, 2013

Thursday morning

SP-500 Daily Chart
Overbought?  Yup.  In need of a correction?  Probably.  Is it done going up?  I don't call tops.  The direction is up until it isn't.  Keep tight stops under part or most of your position and let it work.  A pullback to the horizontal support line could be welcome and being ready to enter or add on a bounce from that level can keep you in a moneymaker pattern.  Enjoy what Santa Clause brought.