The Rally, Crack'd?

The Rally, Crack'd?

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Indices In “Not Only-Up” Shocker

The S&P500 and Nasdaq delivered a nothingburger of a day overall today; the Russell rediscovered its appetite for basement dwelling. Let's take a look at where the indices stand after the close.  Today’s post is free for all to read - if you’d like these notes daily, just sign up for a Premium or Pro subscription here at Cestrian Market Insight.

Real Time

We also, by the way, are off to a rip-roaring start with our two new real-time trading services.  Trading With Van and Trading Gains run live on our platform and are operated by two whip-smart technical analysts who spend all day in pursuit of the twists and turns in the S&P500 and the Nasdaq-100.  You can use their work to try to profit from ETFs or futures, depending on your preference; neither has any kind of directional bias but will instead highlight long and short opportunities as the market dictates.  Here’s something from Trading Gains just now:

Gains explains:

  • “Nasdaq is forming a downward channel (A leg) and is showing weakness overall with other indexes following suit.
  • Price action has been aggressive but the bears are coming out to sell the top. The bulls will have a hard time breaking through the upper channel without a catalyst”.

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Any difficulties signing up for either service, or if you have any questions whatsoever, you can reach us using this contact form - we'll get right back to you.

Back To Basics

OK, here goes with our market charts for after the close on Tuesday 5 December.

Note - to open full-page versions of these charts, just click on the chart headings, which are hyperlinks.

US 10-Year Yield

S&P500 / SPY / ES / UPRO

Larger Degree - BASE CASE

Nasdaq-100 / QQQ / NQ / TQQQ

No change to our larger-degree outlook. It will soon be time to test whether our base case is valid or too cautious.

Base Case - Larger degree:

Bull Case - Larger Degree:

Dow Jones / DIA / YM / UDOW

Larger degree:

‌‌Russell 2000 / IWM / RTY / TNA

Larger degree:

No change. Upside to $196, downside to $160.

Cestrian Capital Research, Inc - 5 December 2023.

DISCLOSURE - Cestrian Capital Research, Inc staff personal accounts hold long positions in, inter alia, UPRO, SPXU, TQQQ, SQQQ, UDOW, TNA