Written by: Mike Simonato, Ontario Presenter: “My Three Friends”, Dec. 3, 2016, VectorVest International Online User Group (Click here to View: My Three Friends)
Summary: whether in life or in the mkt to be successful we must Focus on the Positive and Learn from the negative and move on quickly. Now for the Markets:
DOW JONES: Weakest of the 3 Failed at resistance but holding the 200 SMA 8 EMA acting as resistance with Stochastics and RT are rolling over
NASDAQ: Looking a lot better Watch for a breakout to new high. Stochastics are also Bullish
S&P 500: Same as Nasdaq. Looking Positive
MKT TIMING: Price has been in a tight channel the last 2 weeks
READ Views and Strategy SEE Below for a few things that have worked through this mkt
CANADA
PTSE: 4 touches at resistance the last 9 days Wedge setting up Still low volume
VENTURE: Continues to rock Broke out Wed, Sellers tried to push it back down Thurs but the Bulls showed who’s in charge Fri
MKT TIMING: Price resting the last 3 days. Bearish Divergence continues.
READ VIEWS ( Stan continues to amaze), Strategy and Climate (USA Earnings indicator unchanged. Canada continued further into Bear Territory falling
another 2 points
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