Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST.
In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Sunday, December 2, 2012

WEEKEND POST UPDATE AND OUTLOOK.

Added:
AAPL, AMZN, BIDU, GOOG, GS, QQQ, IWM

Updated:
SPX-DAILY II - outlook note added
SPX-5MIN - note added.

The market is ready for a small pullback this week starting on Tuesday. It will be the setup for the final leg up (to 1470ish).
But before the pullback takes place, look for a big rise on Monday with the SPX (currently at 1416) going to 1436 (on Monday or early Tuesday).
It is VERY IMPORTANT to monitor 1432-1436 level because that will be the likely reversal point.
Note that this is just a small pullback - more like a downward trending sideways move. So it will be excellent for daytrading with all the back-and-fill action.
Also note that tech is going to be the strongest sector. Therefore, monitor QQQ, AAPL, GOOG etc for best opportunities when the next leg up begins.