Thursday 1 February 2024

2024 begins positive

 


 


Summary 

The SPX saw a net January gain of +75pts (1.6%) to 4845, having printed a new historic high of 4931. The monthly settlement was above the key 10MA (4456), as the m/t trend is unquestionably bullish.

Momentum ticked upward for a third month, settling on the moderately high side. S/t bullish into February. M/t bullish from the Oct'2022 low. The latter arguably only changes if a monthly settlement back under the key 10MA, which will be in the low 4500s in February.

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Saturday 30 December 2023

A bullish 2023

 


 


Summary 

The SPX saw a net December gain of +202pts (4.4%) to 4769, another monthly settlement above the key 10MA (4382), as the m/t trend remains bullish. Net 2023 gain of 930.33pts (24.2%).

Momentum ticked upward for a second month, settling moderately positive. S/t bullish in early January 2024. M/t bullish from the Oct'2022 low. The latter arguably only changes if a monthly settlement back under the key 10MA, which will be in the low/mid 4400s in January.

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Thursday 30 November 2023

A very bullish November




Summary 

The SPX saw a net November gain of +374pts (8.9%) to 4567. November saw a monthly settlement back above the key 10MA (4302), as the m/t trend has turned bullish.

Momentum ticked back upward, settling marginally positive. S/t bearish, if only a week or two. More broadly, bullish into mid January.

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