Light Volume, Bulls say No Prob!

The volume lately has been getting slightly lower day by day as well as the RSI / McClellan, yet the prices still keep rising! Now I'm not saying that's a bad thing. If you're long, you probably aren't complaining either since we're all just stacking chips. Just be aware that eventually, its gotta come back down, and hopefully we all aren't too deep in position when it comes.

There was a slight scare early this morning for me though. First 30 minutes of opening bell, DJ dropped to about 10,505 or so. The hour before closing, DJ jumped 50 points and well the day ended well cause my portfolio went positive.

Anyway, I didn't enter any new positions today, but I didnt close any either, including the AEM that I bought puts on yesterday. GOOG and BIDU seem to be rising nicely, though the censoring decision can change everything. GE is mid-stride of an ascending triangle and closing on a doji today. QQQQ is continuing its breakout today, though on less than favorable volume. POT is down 1% on 50% volume during trading hours, but if you check right now- they are up 7.2% on after hours trading. +8.56 on about 71k volume. Might want to keep an eye on where thats going tomorrow.

Watchlist and the McClellan

Sunday night charting! So as the McClellan is showing, the market is well into overbought territory, which is also backed by the RSI. With the MACD also lowering, I would be look for a pullback in the next couple days. If the S&P doesn't break the previous couple months high at around 1150. The S&P is moving up strong with a bit more to go to the 1150 mark, which doesn't leave much on the upside of things. If the pull back doesn't break the month and a half uptrend, I'm assuming it tears through the 1150 mark, which lets the bulls be super aggressive. For the first Sunday of this blog, lets keep it short! On to the watchlist!


Sell - AEM BVN CNW UNH
Buy - AKS FLIR MRVL VPRT WLP
Patterns - AAP BBT GE MFC RYL TOL (AAP has a symmertrical triangle going on, but also an uptrend within it that may break the triangle soon!)