I think Santa was smoking some illicit substances last night and...

I think Santa was smoking some illicit substances last night and got a little high.

In America:

Dow Industrials +2.87%
Dow Transports +3.37%
SP500 +2.98%
Russell 2000 +4.19%
Nasdaq100 +3.01%
Comment: Big, big up night last night and, ignoring volume on Freaky Friday, volume was up on recent days. Positive.

NewHighs/NewLows 123/23. NH>NL. The New Lows is back to low numbers. Positive.

Technical Comment on the Dow 30:

The Dow finished at 12103.6. Bounced strongly above the 150-Day Exponential Moving Average (red dotted line) at 11757.
Indicators:
* Stochastic: 49.1. Still below its signal line but rising. Neutral
* RSI.9 is at 58.6. Above 50. Positive.
* MACD Histogram. Marginally below Zero and rising . Neutral.
* MACD. Marginally below Zero and rising. Neutral.
* CCI.14: -11.1. Bounced from below -100. Positive.

The market has turned around strongly on good volume from the 150-Day Moving Average. Buy the dips.

The current short term trend is up. Respect the trend.

Redbacka