Trading Setups

While the market is being defended, there is still a clear lack of ability to move things higher. In fact, they killed the clouds today…and the nasdaq lagged. It took a news-induced late day move to get the market where it closed.

You have my lst of favorites…but I am not buying until market confirms a rally. For me though, any more sitting around or anemic bouncing will just set the shorts up…and if you look closely, major indices may be forming bear flags…but need another card or two out of the deck.

Pre holiday trading tomorrow… and end of month next week…had better rally the market…or else.

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.