Market view

Booooooooooooooooooooom ! What an A-M-A-Z-I-N-G day we had yesterday , with markets gapping up another 3% and closing 4.33% higher ! All my EDC and TNA truly ripped and right now everything in major profits as I said with enough patience , no worries about comming into profits again imo.

Markets up 3 days in a row - EU markets up 10%+ in 3 days , US markets up around 7% in 3 days.

Many people in my room in www.nwatrading.com bought heavy on Friday last week on small cap stocks and TNA/EDC and they are up 20-40% on many of them already , big gains made !


Overall this is just what I were expecting - a MASSIVE rally after the drop we had , which was only a "correction/pullback" after a major move higher in October.

If i'm right this is not done at all , we are only half way or so and I still think we see 1300+ which is only near 50 SPX points from here.

Overall all short term charts extreme overbought , this means that a PULLBACK is very possible and it may be sharp as well.

But if we follow it like October we will MAXIMUM get 1 day of pullbacks before rally higher - so if we get pullback I think it could be sharp ( to trap more bears in ) and then rally higher the day afterwards.

There is a possibility we may gap up higher and THEN pullback - but either way right now we have HEAVY support at 1220 on SPX , this should hold as support if we pullback - but IF we gap higher and go to around 1260-1270 area - then the pullback would only take us to 1230 area - but also very possible.

Conclusion: Either way , pullback or not - I remain heavy bullish and now we enter December which is one of the best months for small caps with January - so get ready for picking up great small caps that can run 50% in a few days , they pop everywhere. IF not try out www.nwatrading.com here we give intraday tips to buy and when to sell with stop losses and stuff.

I stay long TNA/EDC and all longs and expect markets is only half way up through this rally , I expect more upside over next weeks into Xmas at least - so no reason to get bearish imho.

Congrats to all longs who stayed long and strong and didnt scare out.