The market looked tired today as it became more evident as the day wore on that dip buyers and performance chasers packed it in early and went looking for the Christmas tree. While we would have expected a follow through day, the pull back looks OK as many momentum favorites are correcting on lighter volume and not damaging good technical patterns. Despite the sell off, the Semiconductors led today posting over a .5% gain. This resiliency is impressive and precisely where we would like to see leadership in order to take this market higher. We especially like the strength in the closing hour. Bull markets tend to close strong and that is what we got today.  

This week was simply exhausting as the big swings kept us on our toes and technical difficulties at Shark HQ made effective trading very challenging. Overall we’re pleased with the performance this week and continue to feel optimistic regarding the future of this market. The swings within the indices are sure to throw off many participants and make good trading opportunities for the quick and nibble.

We believe that Big Mo will rest up over the weekend and provide some further upside next week.

Enjoy the weekend and rest up, we should have some good trading in the days ahead.

Rev. Shark