This post was just published on ZYX Buy Change Alert.
Christmas Eve has turned out to be the low so far. The buy signal for SPY and SSO was given at the low on Christmas Eve — a spot on call. Now there is about 22% gain on SSO over a short time. The market is approaching resistance. Please also see the Morning Capsule about semiconductor sales, this is a big negative. Consider taking profits and exiting the position.
Here are the profit taking zones.
S&P 500 ETF (SPY)
$259.40 to $264.57, SPY is trading at $260.15 as of this writing in the pre-market.
ULTRA S&P 500 ETF (SSO)
$99.34 to $104.88, SSO is trading at $100.07 as of this writing in the pre-market.
Nasdaq 100 ETF (QQQ)
$160.43 to $165.73, QQQ is trading at $161.90 as of this writing in the pre-market.
Ultra Nasdaq 100 (TQQQ)
$41.88 to $46.26, TQQQ is trading at $42.32 as of this writing in the pre-market.
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