Whilst the main market saw minor chop across the day, the real action was in the momo stocks. All the usual suspects saw very significant gains of 2-5%, and look set for general upside into early 2014. With the momo stocks catching a firm bid, its bodes well for the main market.
Most notable of all the momo stocks...the TWTR, which put in the first daily close in the $50s. Just ten trading days ago, TWTR had lost the $40 psy level, and looked set for the low 30s. What a turnaround!
Similarly, FB which had broken the H/S neck line recently...is continuing to recover, and has put in a key daily close above the 50 day MA in the $50s. Now..the talk is about 'when will FB hit the $60s?'
Overall, all the momo stocks look set for further gains into year end. Certainly, the current trend is strongly bullish.
*my main market outlook is for sp'1830/50 zone by year end, which if correct, should indeed mean the momo stocks are at least somewhat higher than current levels.