Groundhog Day..... Again

Today was a ditto of yesterday. Hard selling before the open followed by squeezing and popping all day to new highs.

At 8:30 the Non Farm Payroll report triggered a sell-off.

On the weekly chart below that little buy signal we saw yesterday played out...again.

And yes the Santa Claus Rally is still going.... a little at a time. It's a great pace for the long term portfolio but it sucks for day trading.

On the bright side.... No person on earth, (that's incredible) has ever traded this particular type of market. We broke every record one year ago for a falling market. And now there is a lot of nervousness about getting caught at the top.

So we have this pattern repeating. I sure hope it doesn't last. The volume is high. But the longs are neutralized to a large extent by shorts. So they're in a holding pattern for much of the day.