RALLY SLOWS BUT MOMO CROWD BUYING CALL OPTIONS ON SPECULATIVE STOCKS LIKE THERE IS NO TOMORROW
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Rally Slows
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 the Santa Claus rally started but is now slowing down.
- The chart shows the stock market is approaching the micro resistance zone. The hopium is that the stock market will break above the micro resistance zone and continue to higher highs.
- RSI on the chart shows that the stock market is neither overbought nor oversold.
December 27, 2024