55 replies to this topic

[redfoliage2]

At this juncture upside is very limited.   I'd be prepared for a reversal either intra- day or overnight .........................

Time to sell into bounces .......................

Edited by redfoliage2, 26 December 2023 - 01:38 PM.

[redfoliage2]

Some pundits seeing a 5% correction coming anytime soon. I think the chance is pretty good for it  .....................

Edited by redfoliage2, 26 December 2023 - 02:58 PM.

[redfoliage2]

So there came active selling in the last 30 min before the close, that wiped out nearly half of the gains made earlier today ..............................

Edited by redfoliage2, 26 December 2023 - 04:25 PM.

[dTraderB]

"Today was the first day back after the three day Christmas Holiday and also Day 2 of the infamous seasonal Santa Rally that has been much discussed. Recall that this is a 7 trading day period stretching from December 22nd to January 4th that on average returns 1.4% over the last 30 years. While I trade price and my system/setups *exclusively* - not seasonals - it is nonetheless important context to keep in mind. The first two days of the Santa rally have - right on queue - been green."
-- ADAM MANCINI

[dTraderB]

Jeffrey A. Hirsch (@AlmanacTrader) posted at 6:35 PM on Tue, Dec 26, 2023:
Last 3 Days of Year Weak Link in Santa Claus Rally
Last trading day of the year NASDAQ has been down in 17 of the last 23 years. And its the weakest performing day, on average, of the Santa Claus Rally as noted on page 118 of the Stock Traders Almanac 2024. https://t.co/AF136r3d0d

"Today was the first day back after the three day Christmas Holiday and also Day 2 of the infamous seasonal Santa Rally that has been much discussed. Recall that this is a 7 trading day period stretching from December 22nd to January 4th that on average returns 1.4% over the last 30 years. While I trade price and my system/setups *exclusively* - not seasonals - it is nonetheless important context to keep in mind. The first two days of the Santa rally have - right on queue - been green."
-- ADAM MANCINI

[dTraderB]

HANG SENG rally... closed 2

Will reopen velow 16500

[dTraderB]

Closed 3 TLT CALLS
Will close more above 101

[dTraderB]

Some are buying every DIP
Some are now selling every RALLY...

[redfoliage2]

Some are buying every DIP
Some are now selling every RALLY...

I see there are likely about 30 SPX points left on the upside as bulls are looking for SPX 4800 as the end of the year target ....................

Edited by redfoliage2, 27 December 2023 - 01:31 PM.

[redfoliage2]

 

Some are buying every DIP
Some are now selling every RALLY...

I see there are likely about 30 SPX points left on the upside as bulls are looking for SPX 4800 as the end of the year target ....................

 

Hard to say as right now just day traders and AI traders left running the market ............

Edited by redfoliage2, 27 December 2023 - 02:09 PM.