- In Trade Chatter
- Last Updated: 20 December 2012
- By LA Little
A few weeks ago I dusted off some work I did a year when I wrote for RealMoney Pro and posted it on the revolving carousel on the front page. It basically showed the tendency of the small caps to outrun the larger issues at the end of the year. So true again. Yesterday we saw a take back day where the prior days move were essentially taken back on the next day. Since, in this case, the prior day was a breakout move that is a bit more worrisome than normal but the move back came on lighter volume in the listed issues and a bit more in the NDX. All in all, we still look reasonably positive and the market keeps saying it wants to crawl higher despite all the Washington rumblings. The next couple days will continue with volatility as someone tries to decide something on the Hill.
The trends have switched back on the short term for the major indexes to a more positive bent given the moves this week and one has to lean in the direction of the trends which is bullish or sideways across all time frames. With the short term transitions, it is likely that a continued move higher finds a way to unfold.