HGSI Doc Top Down Weekend and Year End Review 1/03/2016
Greetings and Happy New Year to all
Excuse the barking at the beginning of the video, as I assure you, those are not the Dogs of the Dow getting ready to rumble.
2015 was a tough year and if you believe the pundits, 2016 sets up for another one of great challenge. We ended the year stuttering to a close as we had another week of junk rallying off the bottom.
I take this week’s video as an opportunity to not only look at this weeks market but to review some of the key findings from the past year as well as compare certain performance metrics over the past several.
It is often difficult to make big decisions based upon 2 low volume weeks but the markets continue to look tired here while the RUT is frankly just weak. The VIX is setting up at higher lows and the dollar is firming. These do not make the ingredients of an overly bullish week.
The market has been led by FANG but as I review this too looks to be topping with several of the big names – FB, NFLX, looking to be at key points of support or breakdown. Based upon the upsized gains in FANG in 2015, one might expect some weakness in the beginning of the year as folks take some profits now to defer the tax hit till April 2017.
Please join me on this review.
Once again have a Healthy and Happy New Year and may your best trades of 2015 be your worst of 2016.
I apologize in advance for the dog barking and the phone distraction at the end.