R.C. Market Report 12.8

• Tomorrow's Forecast: Battle with 50DMA Resistance

• Today: Bullish gap up at open and a hold of those gains. Major indices are either at or near 50 day moving average. Volume remains relatively light.

• Tomorrow: My cautious outlook for this week was off the mark this Monday. However, there's another reason to be cautious as we now battle with the resistance from 50DMA, which markets haven't touched for about 3 months. We've also had a 20% gain in a little over 2 weeks. It makes me wonder whether I'm missed a chunk of the bear market rally that I'm waiting for already. Nonetheless, I believe uncertainty remains and I'm still cautious.