Saturday 30 December 2023

A bullish 2023




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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