I can see the case for a decline from here.
My daily cyclical oscillator has dropped to just 2 (+75 to -75 range) where falling to the zero line indicates high risk of selling.
My favored CCI is now over 100 (OB zone) albeit not yet declining.
We hit the daily upper bolly and yielded a bit off that. Bounces off that wall (in this case down) are routine.
Not everything is lined up so its not a lock as far as Monday open (or even Monday close).
But S/T upside potential is limited from here though.
Re IT and LT, the IT status has weakened notably ... from very strong post election to one quarter that strength now. In range for a sell signal soon.
The LT status remains VERY strong (>2 on +3 to -3 scale) and suggests any IT decline will be bought.
"the best I can hope to do is to respond rationally to whatever the market gives me at the next open"
Reasonable approach, but it is possible to anticipate at better than 50/50 from time to time. Those are gifts.
Prevailing market strength argues against taking such a gamble here imo.
Edited by pedro, 07 January 2017 - 10:53 AM.