The bounce from last Thursday’s low arrived right on time both for the typical start of a Santa rally and for the end of a five-wave pattern from the 12/13 high. However, the structure of the bounce appears counter-trend and the S&P 500 could roll back over once Santa’s influence wanes.
In this video, we look at today’s continued selling and the last several weeks of market action. What do we make of this market action and where do we go from here? As we go into the end of the year, we look at the charts and try to figure out if we go higher or lower and more importantly, what happens in 2023?
In this video, we look at today’s continued selling and the last several weeks of market action. What do we make of this market action and where do we go from here? As we go into the end of the year, we look at the charts and try to figure out if we go higher or lower and more importantly, what happens in 2023? Lastly, we go over a very unusual “custom” trade set up for the end of year and talk about why I set it up as I did.
The idea that we must look at many symbols and many setups can be both unproductive and intimidating. So here’s how I traded with the chatroom this morning and the one trade setup that triggered.
I am fine with the short term as we wrap up the year but what about levels in the Dow, healthcare, gold, crude, and more. Here’s what is on my radar.
Tesla shares have been going through a bit of a fire sale here lately, but that may finally be coming to an end. Let’s look at some levels that held today and what they may imply for trade into next year.
Many correlated indexes that have not followed others tend to snap back in line. If the /ES stays down, then the /YM could test the last month’s lows.