More upside Next week here is your Market outlook
The reality of the situation is that the markets are acting normal. It's the tremendous microscope that is hanging over the markets these days that has seemed to bring back a lot of the fear and when we look to read the fear we turn to the $vix. I spotted a interesting level that lines up with each recent pullback in the market. It is not foll proof but it adds to the opinion that I think we move a bit higher before we see if this recent run is a bearish channel bounce (I am staying away from saying bear market bounce cause that is not the case yet and especially after the last 2 days.
Look at those candles above ..Its hard to not expect some follow through
Bad news of course will derail the train fast so the risks are out there but I feel it would have to be more then a debt ceiling debate.
Going into next week I am extremely bullish in $GIS and $PG also there are very strong charts in ACT and DLB there and a full list of HPS Stocks can be found here for members Video
Here Market Video watch List and the HPS (High Probability setup ) site here
http://hps.daytradingradio.com/I agree there should be some follow through but I've also seen bull traps line up like this before. We start off initially higher with a fast turn around. In any event should prove to be a traders dream which ever way this breaks.