I hope it starts to rain a whole lot in sunny California as Utah could use some snow.
What we have is great, but the season starts to get short when you don't have any powder days in and it is late December. Deer Valley has been prepping the snow and definitely has the best "product" around, from snow making to customer service, to food, etc...
It will come (right?).
As far as the markets go, we have a definite lack of sellers in the broad markets. QQQQ broke out to a new intraday high today. The trend is still sideways to up so all of you who are bearish, use tight stops and any of you who are protecting your long positions, also use tight stops.
On the intraday side of things, volume is very, very light, so be careful trading. If you get a good one, nothing wrong with taking profits and then enjoying the rest of the day. Trading opportunities will likely thin out as we get later into the week. There are a few data releases Tue, Wed and Thur, but again, volume is light and the moves can get tougher to read.
Will the other broad market indices breakout?
On the intraday side of things, volume is very, very light, so be careful trading. If you get a good one, nothing wrong with taking profits and then enjoying the rest of the day. Trading opportunities will likely thin out as we get later into the week. There are a few data releases Tue, Wed and Thur, but again, volume is light and the moves can get tougher to read.
There were two double fall line trades in the EUR/USD and USD/CHF this morning. I think we were lucky to get 2 quality trades in a short span of time during "Holiday Trading".
Brian
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