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The stock market continues to hang on by a thread, with the S&P 500 holding steady but nearing critical support levels. An hourly close below 6080 could signal the end of the current uptrend, although more significant trend support remains further down the road. The latest Technical Trader Report highlights stock cycles pointing upwards, but the market could be nearing a high soon.
In other market news, the 10-year Treasury yield is attempting to climb back into its previous channel, while extreme valuations and liquidity growth suggest the possibility of a future bear market.
Additionally, strong buy signals are emerging for gold, as it rebounds off its channel’s lower bound, supported by favorable trading cycle alignment.
Stay informed with the latest stock picks and insights, including 2 buy opportunities and 2 short sale picks, in this week’s December 9, 2024 Technical Stock Screens.
Key Highlights:
- S&P 500 nearing critical trend support levels
- 10-Year Treasury Yield climbing back in the channel
- Gold shows strong buy signals
- Stock Cycles point upward but high due soon
- Technical Stock Screens reveal 2 buy and 2 short sale opportunities
Keep up with the market trends and prepare for what’s ahead with our expert analysis.
