Santa sleigh has these symbols.
I am watching trends into the end of the year where strength gets stronger and weakness gets weaker. From AAPL to TSLA, Metals to Bonds, there is a lot to like in this market still.
I am watching trends into the end of the year where strength gets stronger and weakness gets weaker. From AAPL to TSLA, Metals to Bonds, there is a lot to like in this market still.
Today the SPX rallied 1.5% and fortunately we were looking for this. There is, however, still some “And” & “But” still to go with this trade plan. I’ll explain in tonight’s market update.
Today’s market conditions signaled that the Santa Rally may have one more leg up. Check this video out to see how we walked away with a big winner.
The SPX formed an hourly bull flag, but stopped right at resistance. IF it does break up, it measures to around 3940.
Many NQ stocks are starting to turn the corner on the up side, like NOW, while some DJIA stocks like UNH are rolling over. I will look to short the DJIA stocks, and buy at support, the NQ stocks that have “turned”.
After the markets once again failed to break above weekly resistance, it is looking like the path lower is very much intact heading into the new year. Should the markets continue this downtrend, I believe this weekly squeeze in $AAPL could be one great spot to pursue short positions.
Heading into 2023, the structure of many key time frames continues to suggest that the path of least resistance for the market is to the downside. One setup that I’m looking at for bearish opportunities is the weekly squeeze in $AAPL. Let’s take a look.
In this update we take a look at the macroeconomic reasons that there could be a Santa Rally as well as when and where we will look to get it.
This is what all of the data amounts to: What will the FOMC do next and why? With GDP and PCE coming up this week there is plenty to watch.