Ahoy there Trader! ⚓️
It’s Phil…
It seems Santa might have skipped the exchanges this year, leaving traders scratching their heads. While the festive rally is on hold, the markets are still brimming with potential as we approach the year’s end. Let’s break it all down and see if 2024’s last days bring a gift-wrapped rally or another plot twist.
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SPX Deeper Dive Analysis:
The last days of 2024 are proving to be a test of patience for traders. Here’s the setup as we navigate this tricky market environment:
- No Santa Rally… Yet:
Despite high hopes, the festive rally hasn’t materialized. But don’t despair! Historically, the last week of the year and the first days of the new year can still deliver. - Bearish Movement, No Momentum:
While prices dipped, they lacked the strength to confirm any solid bear swings. The SPX Income System requires pulse bars for bearish entries, which are notably absent. - Upside Potential in the Air:
Overnight futures are climbing higher across the indexes. Meanwhile, $ADD remains at a bearish extreme, signalling a potential rebound. - Tag ‘n Turn Watch:
All eyes are on the system’s bullish pulse bars. Once they develop, they’ll complete the setup for a new income swing trade—just in time to kick off 2025 with a bang.
For now, patience and flexibility remain key. Whether we see a Santa Rally or not, the opportunities are lining up for those prepared to take advantage.
Fun Fact
January’s market performance often predicts the year ahead. Since 1950, when the S&P 500 is up in January, it finishes the year higher 83% of the time.
This phenomenon is known as the January Barometer. While it’s not foolproof, it’s a fascinating gauge of market sentiment. Traders often use January’s direction as a psychological indicator of the market’s potential trend for the rest of the year.
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece