Total market view

Very abbreviated post. For those reading thank you for your interest in my thoughts on the market. All the best for the new year. 

REVIEW
12/24/2017 Total market view: "Of the 5 USA main indexes only NDX/QQQ showing any trouble at major resistance. As of last week said 'mildly long' with a small GDX (remaining TLT was cut). Added to INDA as that looks to be the strongest name in the overseas indexes, and KWEB also back above all pivots as of 12/18."

QQQ (and related sectors) continued weaker, INDA zoomed, GDX popped. As noted last week in Daily comments GLD zoomed above all pivots, and TLT recovered above all pivots as well.

SUM
Near the end of every quarter I have said watch for signals happening now or early in the new period as they are often definitive. So far what we have seen is GLD and even GDX recovering above all pivots on 12/26 and 12/28 respectively. In addition, TLT once again above all pivots for last three trading days of the year. 

I wouldn't be surprised to see risk start off strong in 2018 but at the same time I doubt it will be a repeat of January '17. 

Moderately long, getting out of the way of tech, global focus INDA, with a starter GDX from 12/24 and later bigger add on GLD on 12/26, seems a fine way to begin 2018. Good luck!