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Charts Show Market Set Up For Santa Claus Rally and Rockin’ New Year

Oh boy, bears are not going to like this setup. It’s bad. Really bad.

The 10-12 month cycle continues to trend upward against its supposed cyclical down phase. What happens when the next up phase starts?

Short Term Chart Picks – Trailing and fixed stops took out 2 shorts and one long last week. That left 7 open picks on Friday. I’m closing out one of them as of Monday’s opening price.

Including both the closed and open picks, the theoretical average gain (100% cash, no margin, no options) was +4.3% with an average holding period of 11 calendar days. This week I have 6 new picks, 5 of which are buys. Only one is a short. This will leave the list at an extremely lopsided 11 longs and one short.

Scary.

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These reports are for informational purposes, aimed at a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance. 

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