Ah, it’s holiday week. So let’s party. I am behind the 8 ball this morning, so I will just post the hourly chart of the ES, 24 hour S&P futures to get this thing started before most of the guests arrive. In the meantime, I will work on finishing the Technical Trader update before the NY open.
In case you are wondering if I had the outlook correct last week, here’s the opening of last week’s report.
There are a few reasons to think that the market should top out here. Should and will are two different things and there are more reasons to think that it’s going higher. High enough in fact, to threaten the all time high before this is finished. Stock Market Dancing on the Ceiling
On the ES hourly chart, the uptrend is intact, and this looks like a launchpad setup.
But start your countdown clocks. Dealers Stay Extended
For moron the markets, see:
- Not Even the End of the Beginning. December 18, 2023
- Dealers Stay Extended December 16, 2023
- It May Be Gold, But It’s Not a Given December 15, 2023
- Swing Trade Screen Picks – No Gifts for the Holidays December 11, 2023
- Tax Revenues and Liquidity are Crashing December 4, 2023
- This Chart Tells Us Exactly When the Bull Market Will End November 26, 2023
- A Rally Can’t Live on Hope Alone November 20, 2023
If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam folder.
