I feel next week is a very pivotal week for the markets. I am hearing rumblings of a corrections coming from different outlets, yet the charts tell me we could see some further upside. This month the S&P  fell 5 sessions in a row but stopped that streak today and if follow some of the key indicators I do then you can understand why we had the bounce today. 

The Daily now comes into play. We had a nice engulfing candle today but this is a different market then the days past when great candles meant follow through. Good volume was there also and the large range was nice. These small things could help but like I said we are trading in a different market. We have seen enough flip flopping to not bet the farm on any perfect chart.

I stepped up to the plate the last couple day and doubled down on some positions. I feel good about it but not over confident. The big event next week is the ECB announcement of a QE program. This is a given. The question is..Is it priced in? I have to think it is but then again is there some surprise that the market is not pricing in?

I can guarantee you this.. Next week will be exciting and Volatile.

This weeks Watch List can be viewed here Its a great one and there are a lot of reason to look for a move higher. But that's not Guaranteed.

Have a great Weekend and Holiday session 

DayTraderRockStar