CONS: Housing downturn Oil fell 30% in the last two months Iron...

CONS:

• Housing downturn
• Oil fell 30% in the last two months
• Iron ore down 10% in the last month
• Tech sector on the nose
• Trade war
• Debt
• There’s no reason for US markets to rise above this year’s highs, so people must be thinking, “Why buy?”

PROS:

• XJO rose much slower than US markets, so it isn’t overpriced or as overpriced.
• XJO is in that support area from the flat 4 months last year.
• Hammer last week on the normal candlestick chart.
• People hoping for Christmas rally.

So I'm looking to short rallies, unless there is big news. Here's the XJO weekly HA chart - a bleak red candle but could be double bottom due to support area: