Thank You...May You have a Blessed Christmas and Holiday Season!

Fifty-five years ago my mother gave me Charles Dickens’ A Christmas Carol as a present.  I still keep it handy on my bookshelf and refer to it regularly, especially at this time of year.  For me one of the most profound observations from its pages is during an interchange between Scrooge and the ghost of his business partner Jacob Marley.  Scrooge is surprised that Marley is fettered in chains.

Marley responds, “’I wear the chain I forged in life.’ Replied the Ghost.  ‘I made it link by link, and yard by yard; I girded it on of my own free will, and of my own free will I wore it.  Is the pattern strange to you?’”

Scrooge’s response includes the observation, “But you were always a good man of business, Jacob.”

“’Business!’ cried the Ghost, wringing its hands again. ‘Mankind was my business.  The common welfare was my business; charity, mercy, forbearance, and benevolence were, all, my business.  The dealings of my trade were but a drop of water in the comprehensive ocean of my business!’”  (Emphasis added.)

As a citizen of a country that is fettered by tsunami of name calling, blaming others, constant complaining, fault finding, flaming and trolling by too many that seem to be willing to point out the mote in someone else’s eye, while having a beam in their own eye, I want to thank you for making it your business in helping, of your own free will, your family, friends and those who have been referred to as “our neighbor” who face very difficult and challenging circumstances.  I know many of you have been a light, a guide, a helping hand, a friend, a daughter, a son, a sister, a brother, a mother and a father in lifting those with whom you live and come in contact.

I believe you forge a chain, link by link, of blessings in your life and the lives of those around you as you participate in lifting others.  May you be blessed with the power, strength and resources you need, for all you have done and will do in 2018 and the years beyond in lifting others.

May you and yours have a Merry Christmas and a blessed holiday season.

President Signs Tax Bill…Stocks Consolidate before Christmas Holiday…SPY, QQQ, DIA, IWM form Hammers in Bull Flag…

Markets are closed Monday, December 25, for the Christmas Holiday

After the Close Review of Friday’s market action…SPY, DIA, QQQ, IWM, XLK, XLP, AXP, BA, INTC…bull flags and yes it’s hammer time…Can you find the 19 bull flag setups in tonight’s post?  …10:30 pm PST

© 2017

Six sectors were higher on Friday, led by real estate XLRE +0.65% and materials XLB +0.38%.

SPY down .07 at 267.51 on 78.4 million shares, 2% below average volume.  Down slightly on higher volume.

VIX up .28 at 9.90

Oil up .12 to 58.35

TLT up .17 at 124.77…on 3.9 million shares, 48% below average volume.  Up on lower volume.

CAT +0.72%, and IBM +0.66%, led the DJIA, 16 advancers.

SCG +4.33%, EIX +3.03%, and NRG +2.55%, led the SPX.

LBTYA +4.10%, ALGN +1.99%, SIRI +1.90%, JBHT +1.61%, and CHTR +1.58%, led the NDX.

Intermediate and long term up trend intact.  3-day short term trend is neutral.

Up:

Down: SPY, DIA, QQQ, IWM

Breadth weakened on Friday, as advancers led 1,461 to 1,408 on the NYSE and decliners led 1,582 to 1,287 on the NASDAQ.

The SPY MFC green line is in the upper zone at 92, bullish.

Uptrend sectors:  XLB, XLE, XLY, XLI, XLF, XLP, XLK, XLV,

Neutral sectors: XLU, XLRE,

Down trend sectors:

Intermediate-term trending stocks:  Many of these stocks have had significant pull backs over the past month and it is appropriate to wait for the uptrend to resume before considering entry… CAT, BA, WYNN, V, MAR, IBKR, TRU, CBOE, VRSN, MCD, AA, LYV, FCAU, CCL, RCL, SQ, CC, EDU, ADBE, PYPL, ALGN, MU, FB, A, ISRG, TTWO, AABA, BABA, CDNS, ANET, RNG, WUBA, SHOP, ATVI, WB, LRCX, NVDA, RACE, TAL,

44 of 100 NDX stocks closed higher on Friday.

62 NDX stocks are above their 30 DMA.

NDX Stocks to Watch on Friday:

Moving Above 30 DMA = 2                            

HAS, ILMN,  

Moving Below 30 DMA = 3

CTSH, EA, SYMC,

The intermediate and long-term trends are still up.

6-month Intermediate Term Market Trend: Up

3-day Short Term Market Trend: Neutral

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