The Nasdaq reached the first target of it’s Santa Claus rally Friday by touching it’s trendline and 50 day moving average. It moved over both Monday. I sold my longs into the rally Monday. A bullish market will either continue higher here, or consolidate. It’s doing a little of both. I’m focusing on longs and window dressing.
UWM is the Ultra-long ETF following the movement of the Russell 2000 Small Cap Index. We’ve got a breakout there too. A pullback to the trendline would make finding setups easier. We’ll have to see how it plays out here. January can be very good for small cap stocks.
