Bullish Breakout

The market was in a range for about three weeks, and then decided the data in the U.S. Labor Department nonfarm payroll report was bullish. There appears to be strength out there in many names, although you need to find them since so many other names are still hibernating or sinking.

The SPDR S&P 500 ETF Trust (SPY) has resistance overhead that has worked four prior times, so we need to keep our guard up. The U.S. Consumer Price Index (CPI) report is on Thursday and that could also bring volatility.

Here’s what I’m seeing:

Continued volatility is the topic of the new year as the stock market sorts through more economic reports that can influence price action. How do you trade this market through the end of the year? Members of my Moxie Indicator™ Mastery Program learn how to combine fast-moving signals and track movement as the market flips and flops in the volatility. Join us as we track the profit opportunities!

Your Profit Pilot, TG

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