Ratcheting Up Stops - Market Analysis for Dec 19th, 2019
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We all know that market is extended and in a position to pull back. We're just not getting any major sell signals.
In our video analysis, we see that 3214 is the next upside target in the S&P 500 futures (ES) in the 1.618 projection on the daily chart. As far as the 30-min chart, extensions point to 3206 and 3210.
In the Nasdaq futures (NQ), we're very close to target #2 at 8658. On the 30-min chart, support held and we're very close to making the target of that area at 8650 and then 8661.
As we're getting close to those upside targets, you need to ratchet up stops.
Also in this video we cover the TLT, oil futures (CL), and gold futures (GC). View the video here.
