No Santa Sightings Yet
In this video, Bruce discusses today’s market action and the outlook for the end of the year. After CPI this morning, we got a nice bounce and relief rally after a long and messy chop phase since Thanksgiving. We have Quad Witching tomorrow after today’s monthly (AM) expiration in the indices and then PCE next Tuesday, so lots more volatility to come. We are clinging onto the 50 SMA on the ES, and if this can hold, we still have a shot at seeing our Santa Rally this year. Bruce will continue to be a cautious Bull until we get more clarity, but don’t load the sleigh too heavy just yet, as we don’t have clear skies to fly in as of now.
