Tech problems are nagging us right now - thus no full market report this week.
Equities look to continue their holiday ramp - barring any unforeseen geo-political events. 2200 - 2262 remains the upside target range for the S&P futures (at 2069 as this is being typed).
Crude oil started to tumble overnight after reaching as high as it could Sunday night (to suck as many buyers in and to cause as many stop-outs as possible for the shorts). It fell to lows just a few minutes ago at $55.22. We took profits on our DTO position on that sell-off. We now believe crude may bounce up to either $56.00 $56.50, $56.90 or $57.28 - all of which are Fibonacci retracements of the overnight decline. We're buying UCO in anticipation of that bounce to at least $56.
Gold looks vulnerable here and could be a "sell the rip" candidate using short gold ETFs or the mining stocks.
In the portfolio, we sold out of GILD this morning as the stock broke down technically.