HGSI Doc Top Down Review 12.11.2016 Year End Melt Up in Progress
Greetings and Happy Holidays
The markets continue their post Trump election exuberance. The Canaries and NASD 100 also appear to be joining the party.
Now the question becomes how much more can we melt up into year-end without expecting some element of consolidation or correction. Perhaps we will just see some market rotation into the Generals while we see the recent leaders consolidate. This would alleviate the overbought conditions while driving indices even higher.
Regardless, this has been a major move to the upside starting the Monday prior to the election. Many of the post Trump leaders are becoming extended (Banks, Miners, Metals).
So we will see whether or not the Generals and perhaps Technology can lead us higher into year end.
Please join me on my top down review. I plan on a year-end recording and look forward to a recap of this great trading year.