Santa Rally...But What's Next For Markets? - Stock Market Technical Analysis 12/24/23
Trading Mentor: https://www.groktrade.com/tradingmentor.html
Are the markets finally starting to top? What a Santa rally we have experienced. This video speaks of this late Santa Rally 2023. The stock market technical analysis today reveals a persistent upward trajectory in the markets again this past week. But financials struggled.
For insights and detailed breakdowns of upside resistance, watch this trading video, where we focus on the stock market technical analysis today.
The last eight weeks, all major indices demonstrated robust bullish moves upward adding the Santa Rally 2023. The stock market technical analysis today indicates that the markets continue to be overbought delivering bearish divergences in the MACD.
The weekly timeframes, of most major indices' charts are showing a bearish divergences in the oscillator and being at notable resistance levels. The stock market saw a midweek pullback, prompting us to question whether this is an 'exhaustion rally' coming to an end. If the Santa Rally of 2023 is anything like the Santa Rally of 2022, then 2024 could be quite bearish.
Investors, such as the 'smart money,' may consider selling to pocket profits, capitalizing on the current market strength. This would be favorable for the bears, potentially leading to a snapback market decline. The upcoming week is poised to be a pivotal clash between bullish and bearish sentiments.
The VIX, known as the "fear index," increased from its January 2020 lows, now sitting above 13. Midweek the VIX spiked higher to drop back lower by week's end. These lower levels suggests a continued 'NO-FEAR' sentiment in the market. A crucial aspect to watch in conjunction with the stock market technical analysis today is the BULLISH divergence on the VIX, which is BEARISH.
#stocktrading #technicalanalysis #investing
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DISCLAIMER: This US stock market technical analysis today trading video is on advanced technical analysis on the US stock market this week and any stocks mentioned are for you to research after consulting with a registered investment advisor.
This US stock market technical analysis today trading video is on advanced technical analysis on the stock market this week and any stocks mentioned are for you to research after consulting with a registered investment advisor.
All of Grok Trade's technical analysis videos are for educational purposes only. Our videos are not delivered by a registered financial advisor.
All securities mentioned in this stock market trading video should be carefully reviewed for suitability by a registered financial advisor. And please keep in mind that our stock market 2023 stock predictions are simply a guess, and the stocks to watch this weekend are not a recommendation to buy or sell. As mentioned and to make sure there is no confusion, the US stock market technical analysis this week dives deep into technical analysis to help traders choose market sentiment and is not an endorsement to buy or sell any security. Our next 3-Day Intensive 301 Mentorship is coming up soon. Click the link above and choose to be trained by a savvy trader through Grok Trade's mentoring program.
The stock market technical analysis this week may have stocks to trade but any mention is strictly for educational purposes only. Always seek out a financial advisor. d7 called the 2008 and 2022 market crash, but there is never any guarantee of calls made by anyone include any Grok Trade mentor.
US stocks to trade market analysis is not delivered by a registered financial advisor. All stock picks should be carefully reviewed for suitability by a registered financial advisor. The stock market technical analysis this week dives deep into technical analysis to help traders choose market sentiment daily. This trading video on the stock market today is for educational purposes only. This US stocks to trade today for today is for educational purposes only. Again, we are required to say, "Always seek out a financial advisor." Video is for educational purposes only.
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