Outlook for Jan 4

What a good day to start the new year! Markets around the globe were very bullish on the first day of opening. Nevertheless I don’t like how the S&P 500 price actions showed in the last 15 minutes today which wiped out all gains accumulated in 3 hours. Today’s close was very near to today’s low. The activities showed there were so many bears out there trying hard to short this gap. This can be a warning sign. However the graph still looks bullish to me.

I’m holding long position overnight.

This entry was posted in Market Outlook. Bookmark the permalink.

Leave a Reply