Market Preview (12/24/2012-12/28/2012) and Watch List

We ended up pretty much flat last week, small gain as fiscal cliff talks hit a wall. We had good economic data coming in during the beginning of the week but when the talks from Washington halted, we saw that the stock market slid.

We have a shortened week as the markets have a half day on Monday and it is closed on Tuesday. New Home Sales on Thursday which I expect to be fine.

The SP-500 is still on a long-term uptrend so I remain bullish, might see a short term reversal if there as crunch time approached for fiscal cliff negotiations.

WATCHLIST FOR TOMORROW

 CLDX - bounce off pullback and support

 IQNT - break

 ISIL - flagging

 

 NKTR - good support for th epullback, break over top

TVL - pull back to support then looking for continuation

Good luck tomorrow!