Lackluster Day, Waiting for Buy Pattern to Setup on Daily Charts

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Today the markets were up very small. The DOW was up 1.20 and the NASDAQ was up 13.33. It was a very quiet day, typical for the day before thanksgiving. I am looking for the market to pullback here and make a series of higher lows into the end of the year. I am waiting for the pattern to setup on the daily charts. Last week I got a buy signal on the exchange traded fund SPY when it closed above 209.01. I am now waiting for the markets to pull in. The DOW got down to 17683 yesterday. I stated I was looking for a pullback into the 17450-17650 range. I do not think the pattern is complete. I am looking for the market to pull in sometime next week before pushing back up and creating a series of higher lows into the end of the year. Today oil had a slightly bullish inventory number. Oil was down at one point today before erasing the losses and closing up 21 cents, above the $43 a barrel level. There is a lot of overhead resistance and I have a sell signal on both the daily and weekly charts for oil. I would be looking to sell oil off of an overbought condition on the daily chart in the 44.50-46.50 range with a 50 stop. Today gold was down $3.50. I am hoping for a bounce up into the 1090-1100 range where I would possibly look to go short. Gold is not doing much here and is dead money. I do not see anything happening in gold between now and the end of the year.

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