55 held for a minute there - but, can it long term or even in the short term. It's now a question if 53 can hold. We shall see.
McDonald's is stuck between a rock and a moving average. It managed to reclaim the 50 DMA after it's recent flash crash, but the 200 DMA still looms as resistance at 96.6. Can MCD make another run at it or will the 50 DMA give way first?
The recent rally in Google has been temporarily snuffed out by the 50 DMA - The falling Blue Line put a roof on the stock and it's treading water below that level. Can Google get back above the moving averages? The 200 DMA seems so very far away at 564.
Apple has formed a new trading range - 105 - 120. It's now trading approximately in the middle - so, Apple is a hold at current levels.
The stabilization of crude prices has lifted the market to new highs - Santa Claus arrived just in time with all-time record levels in time for Christmas.
Google did break to the upside out of the down channel that's dominated the stock for almost two months. However, the rally stalled today at the 50 DMA - so, which trend will win out - will Google break to the upside or resume its down channel? I think watching this 50 DMA will give the answer. If it is resistance, watch out below. However, if Google can get above that blue line - the down turn might be broken.
The Dow has moved almost 1k points in 5 trading sessions, an incredible move by any measure and testament to the endurance of this fed-fueled bull market. How long will this bull market last? All sell-offs are promptly dispatched and are to be treated as buying opportunities. Until the Fed raises rates, I don't see this punch-bowl bull market ending. I say punch bowl for the simple reason that the Government buying its own bonds, hence keeping interest rates artificially low for an extended period of time has forced people to buy stocks. Hence, the rally is largely fueled by the FED.
Value investors rushed back into oil stocks as the price of crude stopped dropping. COP got a nice bid off the bottom of the recent range - rising from 62 to almost 71. What will the next trading week bring? It will almost certainly be tied to the fate of oil pricing - so watch Texas Crude and you'll know how to trade COP.