Wednesday, December 16, 2009

Break Outs!







Many indexes and some sectors are starting breakout moves. Needs to be monitored very closely as we approach xmas and year end which is historically a very bullish time of the year. Also it seems like many traders are expecting january 2010 to be a bad month and kick start a bigger correction. All this action is making think that we might be setting the stage for even further rally. Whenever key sectors like the SOX index and the TRANSPORTATION indxes break out, it's best to pay attention and not ignore these kinds of developments.

2 comments:

Shawn said...

Stewie, so the break outs still valid or not as of today?

Thanks
Sean

Stewie said...

hi shawn: To be honest, we are still in a neutral range. We looked ready to do it yesterday but now we are neutral. I wouldn;t get bearish nor bullish here. keep time frames small and keep profit targets reasonable. We are gonna break sooner or later and the move will be huge.

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