I am taking a day off of the commentary today, but the charts have been updated and posted below. Art's Charts will return in full on Tuesday.
Key Economic Reports:
Mon - Dec 19 - 10:00 - NAHB Housing Market Index
Tue - Dec 20 - 08:30 - Housing Starts/Building Permits
Wed - Dec 21 - 07:00 - MBA Mortgage Index
Wed - Dec 21 - 10:00 - Existing Home Sales
Wed - Dec 21 - 10:30 - Crude Inventories
Thu - Dec 22 - 08:30 - Initial Claims
Thu - Dec 22 - 08:30 - GDP
Thu - Dec 22 - 09:55 - Michigan Sentiment
Thu - Dec 22 - 10:00 - Leading Indicators
Fri - Dec 23 - 08:30 - Durable Orders
Fri - Dec 23 - 08:30 - Personal Income/Personal Spending
Fri - Dec 23 - 10:00 - New Home Sales
Charts of Interest: Tuesday and Thursday in separate post.
This commentary and charts-of-interest are designed to stimulate thinking. This analysis is not a recommendation to buy, sell, hold or sell short any security (stock ETF or otherwise). We all need to think for ourselves when it comes to trading our own accounts. First, it is the only way to really learn. Second, we are the only ones responsible for our decisions. Think of these charts as food for further analysis. Before making a trade, it is important to have a plan. Plan the trade and trade the plan. Among other things, this includes setting a trigger level, a target area and a stop-loss level. It is also important to plan for three possible price movements: advance, decline or sideways. Have a plan for all three scenarios BEFORE making the trade. Consider possible holding times. And finally, look at overall market conditions and sector/industry performance.
