Summary
A high of 6993, if cooling back to 6775, and settling net lower by -60pts (0.9%) to 6878.
Monthly momentum ticked lower for a third month, due to turn negative as of April 1st.
Monthly RSI remains an overbought 74. Another monthly settlement above the 10MA, as the m/t trend remains bullish.
S/t alarm bells if <6600, which would take out the monthly 10MA and daily 200MA.
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Summary
A new hist’ high of 7002, if cooling back to settle net higher by +93pts (1.4%) to 6939. December's hollow red reversal played out. .
Monthly momentum ticked lower for a second month, if remaining moderately positive.
Monthly RSI remains an overbought 76. Another monthly
settlement above the 10MA, as the m/t trend is unquestionably bullish.
Upper bollinger is offering 7088, and set to adjust to the 7100s in February.
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Summary
Net yearly gain of +16.4%
A new hist’ high of 6945, if cooling back to settle net lower by -3pts (0.05%) to 6845. November’s black candle played out. The December candle is a hollow red reversal, and leans net bullish for January.
Monthly momentum ticked back lower, if remaining moderately positive.
Monthly RSI remains an overbought 75. An eighth consecutive monthly
settlement above the 10MA, as the m/t trend is unquestionably bullish.
Upper bollinger is offering 6993. S/t bulls should be seeking a break/hold >7K, to give confidence of 7200/7300s by late March. If yes, then 8K appears realistic by Sept’, with the SpaceX IPO.
Bears have nothing unless a monthly settlement under the 10MA, and that will be around 6400 across January.
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