BELIEVE IN SANTA CLAUS RALLY BUT LOOK AT THIS CHART FIRST $SQQQ $SPY $QQQ $AMZN $AAPL $FB $MSFT $INTC $AMD $MU $AMAT
Some say the stars are aligned for a so-called Santa Claus rally.
That refers to a rise in the stock market in the last week of December and the first two trading days of January. The reason is that low liquidity makes it easier to push up the market. Last year was an exception when the stock market plunged in December.
It’s important for investors, however, to consider different viewpoints.
Let’s do that by reviewing a chart. Please click here for an annotated chart of S&P 500 ETF SPY which tracks the benchmark S&P 500 Index SPX.
Note the following:
• The chart shows three points when the relative strength index (RSI) was overbought on a weekly chart.… Please click here or the title below to read more.
December 2, 2019
