Minor dip, and what appears to be a lower high unless prices move higher in the last couple of hours. Minor bearish divergence detected on the RSI. Ultimately I am long, got the shorting out of my system at the beginning of the year. Just looking to invest at better prices. We are overdue for a little bit of pain as well as illustrated by my previous idea which did play out. Also price keeps hovering near the 3666 number, I'm sure it's pure coincidence, it always is... Would be aiming for a test of 3612 if I were shorting from today's highs. 4 More days after today and then I would hope to not be staring at charts the next week, save for possibly cryptocurrencies and to have all available cash invested for this year.
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Well...obviously not all available cash, but all available cash in my investment accounts. Always leave some form of dry powder just in case.
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25 minutes left and it appears we drillin' we drillin'
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Gap up on stimulus hopes, guess Santa rally is really under way. Starting to understand how bears are feeling every time we have a decent downside technical setup. Not shorting, just looking to buy at better prices. Might make sense to set up an order based on gaps to the downside for anything left on the shopping list.
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Yet again with the 3(666) > s&p500 appears to be in a holding pattern, bets on nothing much happening until perhaps the end of the week, as Friday would represent the last normal day of the year imho.
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Santa Clause Rally it is?
Looks bullish to me on the short term, bears are sure to be nursing their wounds at this recent development. If these current levels hold and we go above 3700, the commentary on wallstreebets reddit group will provide hours of entertainment value. Week still has 3 and 1/4 days left, so this is not "in the bag" but surely the betting is on for SPY EOY > I have no idea myself. I have seen 3600-4000 by analysts that I respect and trust to a degree. Next year will be interesting for sure.
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Going to throw out a number 3750 and probably add 100 points because of the irrationally exuberance that seems to be hitting most investors and traders as of late. Call it 3850 EOY, best guess with adjustment.
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Back tested the breakout - next few days will let us know
End of Year official S&P500 print 3760 at the time of this snapshot