Friday, December 22, 2017

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 sectorsXLB, 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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13 comments:

Unknown said...

Merry Christmas Dave!!!

Mike said...

Dave

Thank you for all you do. Your generous sharing of your knowledge is much appreciated throughout the year and especially at this time during the holidays

Thanks for your inspirations in trading and life

Wishing you and your family a wonderful holiday and Happy New Year

Mike Santoro

Fav said...

Dave. Merry Chistmas for you and your Family.Bast wishws and thanks for sharing both your knowledge and your positive outlook of life.

John Z - aka Stockturner said...

Dave,
Merry Christmas to you and your family.

Thank you for sharing your wisdom and experience with us throughout the year. This is truly your calling.

Happy holidays.

John Zurales

Steph said...

Merry Christmas Dave, to you and your family. Thank you for your belief in, and practice of, the afore mentioned philosophies of life and behavior. Like you, I believe they are worthy of subscription and emulation. I thank you for emphasizing that which is worthy of ponderance for us all, especially at Christmas, and especially in this blessed country.

You have been so good and devoted to us...your students.

Thank you, and once again, Merry Chtistmas Dave!

Merry Christmas everyone, and a happy and prosperous New Year!

TraderBobb said...

Dave:
Thanks you so much for all you do and have done (and will do)
Merry Christmas to you and yours.
Robert

Unknown said...

Thank you Dave for your no nonsense look at the markets.
Your positive message of hope and challange to keep reaching out for ways to help others was well place today Also a heart felt song brought a smie to my face and heart.
Best wishes to you and your family this Christmas season.
John

Bruce and Susan said...

Thanks Dave for all you do to help others, your students and it is obvious you help others in the world at large. We could not agree more, for to whom much is given much is expected. We in North America have been given more than the wildest dreams of others in this world and in our opinion it is our duty to bless others and thereby lift them up. To you and your family and all the readers of this blog we wish you a merry Christmas, a happy and healthy and successful new year in which you will take the time and make the effort to bless others. You never know when you might need someone's help(think Texas or Florida)
Bruce and Susan

Michael Hayes said...

Thank You Dave
For being so Patient over the years teaching us
sometimes you must be shaking your head. Really appreciated
the time and effort.
I hope Susan,Yourself and extended family have a great and safe Xmas
Mike

Scott Avery said...

What a beautiful message from Christmas Carol and your application of it to our lives. It is US who should be thanking YOU for showing/teaching/mentoring us with each link of your trading ability AND observations about life. I noticed that you freely shared them from the first live workshop (10+ years ago)that I ever attended. Thank you for blessing all of us and our families.

Janet said...

Thank you for your wisdom, your patience, your teaching, and thank you for sharing this message from the Christmas Carol. Your observations are inspirational, timely, and spot-on -- all at once. We can all be better, do better, live better, love better. Wishing you all the best as we move forward to a new year.

Don said...

Dave.....That is a great picture of you on the stage at the New York Stock Exchange on Facebook.

It makes us, your students proud. You should be singing the "Hammer Time" song.

Jeff Peterson said...

Excellent message, Dave. Merry Christmas!