Holiday Schedule-Evening Watch tonight is abbreviated with a review of this week's picks that are still setup (not overbought) plus a summary of ETFs and Indexes below. Friday-I will be on Twitter for the morning or about 90 minutes only. There will be a full Evening Watch with setups delivered to youMonday morning. On 12/27 and 12/28 I will not do a midday video and the level of my participation in the market will depend on market conditions those days. I will start each day on twitter and take it from there. The Evening Watches next week will also be abbreviated. On Thursday 12/29, we will have our Live Coaching Session at 12:30 PM EST. (Recorded as well). That will be the perfect time to take notes on what we see for upcoming trends using our top down approach. Then, over the New Year's weekend, you will receive a full Evening Watch to prepare us for the exciting start of 2012. Happy Holidays to you and your families! Thanks for making 2011 such a great year for Keith, Geoff, Michael, Lincoln, Mary and me.
SPY The 200 DMA 126.12. PFTPs again, watch for OR reversal provided today's low holds
QQQ: Inside day. 55.75 must clear. 55.17 today's low must hold.
IWM: There is a trendline that descends from October 27th high and connects the highs from 12/05-12/22. It wil break out over today's high and take this to the 200 DMA at 76.35. Otherwise, under today's low, could see another trip to the 50 DMA 72.25.
ETFs:
GLD Went home short and now would like to see some distance between current price and the 200 DMA. 151.71 last week's low. 149 short-term target.
XRT (Retail)* Digesting and not too far from the moving average convergence. Not overbought so good one to watch over today's high with PFTPs at 52.79
XLF (Financials) Nice. Second close over 12.87 and we got a recovery phase confirmed.
IYT (Transportation) Need 2 closes over the 200 DMA and will be looking at an accumulation phase as we end this year.
IYR (Real Estate) Like IYT, if clears will be first time since beginning of August.
SMH (Semiconductors) A close over 30.60 closes the week out well and takes us to the 200 DMA.
OIH (Oil Service) Another good performance but hurdles remain. The 50 DMA is a big one.
Long Picks: Review of this week's picks not overbought
GOOG: Sideways action this week. Overall chart still positive and certainly one to keep an eye on through 632.
NBL: Inside day. If clears 95.45 could see recent highs 99.10 and possibly 102. Geoff gave you this entry on 12/20 at 91.60 and new entry risk under today's low.
X Entered today. Now in unconfirmed recovery phase. OR reversal candidate.
YUM: Inside day. If clear 58.70, could see another run as we end this year or begin next one. Risk now under 58.00
NFLX: Entered today. OR reversal candidate. In near term looking for 77.60.
Shorts: A Review of this week's picks not oversold
VRTX: 33.34 point not to clear-overall still see 15.00 possible
HLF: 52.80 point not to clear-see 46.00 possible
DKS: 36.92 point not to clear-see 35.10 possible-overall 26.00
RL 137.31 point not to clear-if breaks the 200 DMA 135.13 see 126 possible
Goodnight!