Just Like clockwork...

[jimcasada]

How about a New Year's Baby rally?

[harpole]

How about a New Year's Baby rally?

I'll take it! Now if only today's bump can hold....

[Tomanyiron]

What the heck is the market happy about, today?

[jatelle]

What the heck is the market happy about, today?

Historically, there has been an interesting interplay between the 50 EMA and 50 SMA. The 50 EMA crossing below the 50 SMA is a BEARISH signal: See May 10, 2019; Aug 9, 2019; Aug 20, 2020; Sept 3, 2021; Dec 20, 2021 after which there was a brief Santa rally until Dec 28th; and Sept 15, 2022. Today the two have converged...so what to think?

[wingchaser]

Mildly HIGHER LOW, as we are in our 8th day of CONSOLIDATION…

https://www.investopedia.com/terms/c/consolidation.asp

Where to next?

https://www.cnbc.com/2023/01/03/stock-m ... -news.html

Best of Luck (everyone) in all you choose to endeavor!!!

[12squared]

What the heck is the market happy about, today?

Historically, there has been an interesting interplay between the 50 EMA and 50 SMA. The 50 EMA crossing below the 50 SMA is a BEARISH signal: See May 10, 2019; Aug 9, 2019; Aug 20, 2020; Sept 3, 2021; Dec 20, 2021 after which there was a brief Santa rally until Dec 28th; and Sept 15, 2022. Today the two have converged...so what to think?

Look elsewhere for direction.

[jatelle]

What the heck is the market happy about, today?

Historically, there has been an interesting interplay between the 50 EMA and 50 SMA. The 50 EMA crossing below the 50 SMA is a BEARISH signal: See May 10, 2019; Aug 9, 2019; Aug 20, 2020; Sept 3, 2021; Dec 20, 2021 after which there was a brief Santa rally until Dec 28th; and Sept 15, 2022. Today the two have converged...so what to think?

Look elsewhere for direction.

Could today be the end of a Santa rally - sub-par at best? Or is it the beginning of one? With the 50 EMA beginning to pull away below the 50 SMA... I'm nervous so I went to G.

[wingchaser]

I’m not convinced that this market wants to go DOWN, nor am I of the mindset that it wants to go UP (either)…

https://www.cnbc.com/2023/01/05/stock-m ... -news.html

Best of Luck (everyone) in all you choose to endeavor!!!

[bloobs]

I’m not convinced that this market wants to go DOWN, nor am I of the mindset that it wants to go UP (either)…

You may have a point there.

I was told many times to never use a personal prediction as a basis for trading decisions.....but since I'm an idiot I will go ahead anyway:

- If the nonfarms payroll number released today is "bad" (which apparently means LESS joblessness) the SP500 will still refuse to close below 3800, no matter how bad it is.

- Conversely, if the nonfarms payroll number released today is "good" (meaning we are spiraling gleefully into recession) the SP500 will still refuse to close above 4000, no matter how good it is.

Why? Because the SP500 options trading profile so far this month says so. Yep it has nothing to do with whatever you read on the news, actual economic conditions, inflation, whatever.

Let us see.

[wingchaser]

I’m so confused, I thought good news was supposed to be bad news & now it isn’t?

https://finance.yahoo.com/news/december ... 23740.html

Best of Luck (everyone) in all you choose to endeavor!!!

[jatelle]

Bias is neutral: Market is still in consolidation mode. If the SPY can break and hold above 387 (Dec 21st high at 387.68; 50 EMA at 387.5; 100 SMA at 387.8) then the next major resistance is the 50 SMA at 389.60.

[ripp002]

Hourly wage earnings rose below expectations. The market’s hoping the Fed sees it as a signal to ease rate hikes; as what they’ve done so far is the cause. Doesn’t take much. So, bad news for wages is good news for the market.

[bloobs]

More likely reasons for the continuing cognitive dissonance in price action based on either TA or fundamental analysis:

1. Options sellers do not want to pay out the trillions of dollars in put options bought by dumb money wishing for a January SP500 close below 3800. Not even if Russians nuke Ukraine, Covid comes back in force, or Powell jacks up 2% in the next hike will drive the SPY to close beneath 3800 for the next few weeks.

2. To reach capitulation later this year, the market must first launch into a fake rally to around (3950-4000) to trap retail longs before it can unleash the shorts to pull it down to < 3500 during Q1 earnings.

Any other reasons provided are likely simply irrational. It's a trader's market and they're throwing up smokescreens everywhere to gaslight the fools (e.g. us)

[wingchaser]

I’m “all in”…

Best of Luck (everyone) in all you choose to endeavor!!!

[wingchaser]

How about a New Year's Baby rally?

Jimbo:

If nobody has congratulated you (recently), job well-done for topping the Leaderboard for 2022. Not an easy undertakin’ to outperform over 25,000+ individuals on this Fantasy Website…

Best of Luck (everyone) in all you choose to endeavor!!!