An Early Christmas Present?

On Friday, the Nasdaq lapped higher and after chopping both
ways, managed to close well.

I’m encouraged by Friday’s action. It puts the Nasdaq right
back above key levels.

 

The S&P was also able to put a few points up on the
board.

 

So what do we do? I’m
encouraged by the fact that we did not follow through from Thursday’s massacre.
Another positive is the fact that buyers where willing to step up to the plate
on what will be, for many, the last trading day of the year. Look to nibble on
the long side but remember, trading will likely be thin on Christmas Eve.

Looking to potential setups,
the fact that the semis were able to stabilize, combined with pockets of strength
here and there, has me cautiously optimistic on the sector. With that said, NVIDA
(NVDA)
looks like it has the potential to rally out of a pullback.

 

On the short side, Merck (MRK),
mentioned Thursday, still looks vulnerable.

Best of luck with your trading
on Monday!

 Dave Landry

sentivetradingco@prodigy.net

P.S. Reminder: Protective stops on every trade!

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