Financial moves for Tuesday, January 16, 2012.  The European markets closed up on Monday, January 15, 2012 which is contrast with what I thought they would do in light of the recent S&P downgrades for several of the European countries.  Currently, the DOW futures market is up about 21 points.  CNBC did a news piece today about a Golden Cross technical pattern whereby the 50 Day moving average for the S&P 500 has crossed its 200 Day moving average.  They suggested that this was very bullish for the market and that within 6 weeks the market should move up about 6%. 

I am not sure if that is true or not but I do feel there is an upward bias in the market.  But, I also know that the DOW has been range bound between 11,500 and 12,500 for the last several weeks.  We are currently at the upper end of that range.  The markets went down last Friday bumping up against the range upper limit.

I acquired a few positions last Friday when the DOW was down approximately 160 points.  It ended down only 48 points which meant that I had profits in the positions that I had acquired.  Tonight I will enter sell orders in at 2% above my purchase price.  

If I am wrong and the markets continue to fall, I currently have buy orders in at reasonable intervals.  So, up or down, we are positioned to take advantage of the markets volatility.