Market view

What a nice day on Friday -- the day started with a major gap up 1% where I took all my swing trade profits in TNA/EDC ,, here again another winner with EDC 15% and TNA 8-10% profits , here you can see that patience AGAIN pays ,, as I said 1 week ago its not a LOSS until you take it ,, I swing traded it and made great profits in both.

After this I moved all my profits into EDZ and TZA as we began to hit 126.5 on SPY , we are at a major critical resistance ,, and there is a good possibility we can see a sharp pullback.

This week will get extreme interesting as there is a lot on the program for EU ,,, I can see some POSSIBLE bearish things develop in the markets,, so thats why I went into TZA/EDZ and time and charts will tell me for how long.

For now I'm looking for a pullback to SPX 1220-1230 area early week and then lets see if we get a major bounce from this area.

On 9th December we have major EU summit ,, I think something very dangerous could happend here , possible we can see something like we did in August ,, so stay tuned ,, we might go down hard if anything comes out which investors wont like.

But there is the potential that we backtested the neckline on the head and shoulders topping pattern ,, and if this is a "backtest" then its extreme bearish and then we go down harder.

So far,, I only bet on a pullback in markets - my TZA/EDZ already in the profits on Friday but looking for more this week.

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Conclusion:

Took all major profits in TNA/EDC on the gap up higher on Friday and switched to TZA/EDZ ,, expecting a pullback at least , time will tell me how long I hold it.