Sunday, May 26, 2024

ES Morning Update December 16th 2019

The futures are this morning in what might be the start of the Christmas rally? Usually it's a little closer to end of the month but maybe it's starting early this go around? I'm still looking one more pullback right after this Tuesday but I'm not looking for anything big. Maybe a 30-50 point move down I guess, and then the real Christmas rally should start. I'm not positive yet on this pullback but will get a better feel by the close tomorrow.

That's what I see for this week, and it's got medium odds of playing out. Not much else to add here as we grind higher with 3200 as the target. Considering how close we got to it last week my guess is that they will hit it this week, and that should put the bears to sleep of course, which is commonly when they do surprise pullbacks. That's all for now. Have a great day.

Author: Red

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