December 23, 2024

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Profiting From Stock Market Hopium

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows Friday was an outside day.  It is a bullish technical signal.
• The chart shows that the stock market hit the breakout line before bouncing.
• The chart shows that RSI is close to oversold.
• The set up shown on the chart is a good setup for a Santa Claus rally.
• The chart shows the higher volume on Friday.