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The True Market Emerges January 2, 2016

Posted by Tom in Thoughts.
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First off, I’d like to wish everyone a very Happy New Year.

The past week, actually nearly two weeks, have been fairly uneventful as far as trying to gage market strength and direction.  Note below the very low holiday volume as we “bounced off” the price resistance level near 5165.  That in itself does not necessarily mean weakness this time of year.

NASDAQ

I think it best to not over analyze things and to see what the first full week of trading brings.  Gone is the tax selling and back are the refreshed traders (well most of them).  We’ll see where the big guys want to go with this market.  At the end of 2015, here’s where I see strength in the short term:  (click to enlarge)

Strong Sectors

2015 was a tough year to go with trends.  Let’s hope 2016 is a little more favorable.  Have a good week.   ………  Tom ……….

chart by MetaStock; pie chart by http://www.HighGrowthInvestor.com; used with permission

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