Tuesday uncertain

The Hoot 
Actionable ideas for the busy trader delivered daily right up front

• Tuesday uncertain.
• ES pivot 2083.50.  Holding above is bullish.
• Rest of week bias uncertain technically.
• Monthly outlook: bias higher.
• ES Fantasy Trader standing aside.

Recap

Well Monday was just about what one would expect for the last Monday of the year - the Dow was down a bit, the SPX was up a bit, ho hum.  In fact I don't expect much action until Wednesday when the tax-loss sellers show up, assuming that is that they even do show up this year given the fact that we're going out on record highs.  But anyway, I'm thinking we'll see even less volume on Tuesday and therefore there's little point in trying to call the market either higher or lower..  So I will just save everybody some time, skip the chart by chart run-down, cut to the chase, and call Tuesday uncertain right here.


Accuracy: 

Month    right  wrong  no call  conditional  batting   Dow
                                             average  points
January    5      10      6           0       0.333     64
February   5       2      2           1       0.750    107
March     12       3      6           0       0.800    431
April      9       3      5           0       0.750    482
May        6       7      6           0       0.462    -67
June       8      10      3           2       0.500    132
July       6       4      4           3       0.692    639 
August     8       7      2           2       0.588     81
September  6       6      5           2       0.571    376 
October    6       6      3           1       0.538    271 
November   4       4      5           0       0.444     38
December   5       3      5           1       0.600    241

     And the winner is...

 The technicals matter little for Tuesday.  By this point what we should be more concerned about is checking on the stores of champagne and caviar for Wednesday night.  So the call is simply Tuesday uncertain.

ES Fantasy Trader

Portfolio stats:  the account now stands at $110,500 after ten trades in 2014, starting with $100,000.  We are now 7 for 10 total, 5 for 5 long, 2 for 4 short, and one push.  The ESFT is now closed for 2014 so those are our final numbers.