What do we need for Santa Claus Rally
If no good news comes in before Dec15th Fed meeting, SPX will land on SMA200/Oct4th Low, and fill some gaps during October, then Jay Powell will talk like Jay Powell, "speeding up Tapering has to be made sure with labor data also....". Then there will be Santa Claus Rally!?!?! It is so difficult to forecast but for sure this chart is not the best.
Wednesday's bottom was right on Fibonacci 50% retracement, then bounced but bearish Harami on thrusday, then gave up almost all gain on Friday. Not very encouraging....
We just need a good news on Omicron side at least. Inflation data wont be available till Jan when Dec data comes out.
Wednesday's bottom was right on Fibonacci 50% retracement, then bounced but bearish Harami on thrusday, then gave up almost all gain on Friday. Not very encouraging....
We just need a good news on Omicron side at least. Inflation data wont be available till Jan when Dec data comes out.
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