After Wednesday I was afraid the market might have turned on us, but we rallied late to close the week green, this is our 8th up week in a row, all major US indexes are following the DOW. Speaking of the DOW, we are sitting at ALL-Time Highs, S&P is just below its ATH and the NASDAQ has a bit to go yet which is a bit concerning as you want a true Bull market led by the NASDAQ and not the DOW. What the market is telling us is the big institutional buyers are still leaning toward safety
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Not sure that I’d agree with this.
Nsq is lagging for sure - techs (XLK) lagging in the S&P - it’s Christmas and market thin, I’d watch more in the new year.
Past week all sectors green except XLP. - a little bullish sign.
Happy and Holy Christmas and peaceful new year to all members.
Obviously they’re bullish, they’re all at or near all time highs with a very strong Santa rally. But the risk of recession is high and it totally makes sense that big companies are favoured which is what Denis is saying.
I am traveling this week, I will post updates when I can, Santa rally continues
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Yesterday’s ranking
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CHF, leapfrogs into #1
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Final SW rankings for 2023
For the year the Swiss Franc was the strongest currency, Looking at the CHFJPY , up about 3,000 pips for the year and 2,000 pips from our March SW trade signal
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Looking at 12 month candles, the S&P completely regained all of 2022’s loses and managed a 3 dollar gain., The DOW finished up 1,300 points from 2021 close. Nasdaq still has work to do
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There are many ways to find a trend, and enter a trend to trade it; what is your favorite for this year?
March / April, close enough, Dennis probably hungover, Happy New Year to all, still to arrive for some!
Please add that extra column for 2024, it’s a real memory helper, very clear for noobs and fact checking.
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USD was the big winner on day 1 of 2024
A couple weeks ago I said
Today’s stock action confirms that
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Big day for Yen pairs as CHF regains the top spot, Stocks take a beating led lower by NASDAQ
Both Yen and Stocks down, The world is still upside-down
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Another strong day for yen pairs, Stocks continue to be led lower by the Nasdaq
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The first week of 2024 and things are tightening up
Stocks start 2024 on a down note led lower by the NASDAQ
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NOT ME
From Trader Tom
Quote
"A very long time ago I got a modicum of fame on business TV around the world, because I was the “man who can predict the big turns”.
Well, as it happened, I was simply just using a cycle that I had discovered in the markets. I called it the 500 calendar cycle, or the 72 week cycle.
So I am posting this chart here because I thought it was relevant for you as traders. Here I am showing the Dow Jones index and the proposed Change in Trend right now.
caveat emptor - as the saying goes, but I would be remiss if I didn’t inform you.
Have a peaceful and restful weekend.
Tom"
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