Market Likely To Drift Higher This Week – 2017 Will Be A Great Year For Trading

December 27, 2016
Author: Peter Stolcers, Founder of OneOption

Posted 9:30 AM ET - Today the market is going to nurse a holiday hangover. Trading volumes will be light and many international markets were closed.   Stocks should drift higher this week and support at SPY $225 should hold.   We could see tax loss selling on stocks that have been trashed this year and we could also see profit-taking on stocks that have exploded higher.   The economic news is light this week and there are not many earnings reports.   Look for tight daily ranges.   Keep your powder dry. 2017 is shaping up to be a great year with lots of volatility. . . image

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