R.C. Market Report 12.4

• Tomorrow's Forecast: Next Stop 50DMA

• The market's willingness to go higher is quite strong. Volume increased slightly and intraday volume favored buyers all day long.

• Tomorrow: I can see the market reaching for the 50 day moving average before the end of the week. Looks like a clean path towards that target (now that we've a higher low) and at that point, I'm going to have to reevaluate the market. There's also a head and shoulders formation on the daily chart that traders may attempt to ride on. I can see us going higher in the next couple of days but I don't think we'll be completing that formation. I'm going to try and get long tomorrow but my expectations are quite modest.