Santa Is Rallying
Market Update December 28, 2023
This is the last Trading Adventures update of 2023. Thank you all for making this year amazing! Readership and subscription growth have been phenomenal, both here and on X. And I’ve added a YouTube Channel that is off to an excellent start.
You have my gratitude.
Plenty more to come in 2024. If you have requests or suggestions, I’d love to read them. Click here to comment:
It’s been a pretty quiet week as we roll into year-end. Markets are higher while the Santa Claus Rally moves along as expected.
Today is the 4th day of 7, bringing us past the halfway point and logging a positive result so far.
Ian McMillan has been kind enough to keep score and share it daily.
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Day 4: + 0.04%
We’ll have the full results by next week and can look at the potential implications.
Until then, here are the 1-year charts.
SPY adds to the green streak and is up every day of the Santa Claus Rally period so far. That’s on the heels of a big jumpstart last Friday.
QQQ is up for the week, however, it did give up the slight gains of the early part of the day and closed barely red. Quiet action.
IWM took a break today but is still up nearly 4% over the last week.
DIA quietly grinding higher.
TLT is into the zone and holding the lower range so far.
DXY The Dollar logged its first positive day in nearly two weeks as it works to hold pivot support near $100.68
The Closing Bell
The quiet action makes for quiet charts.
Tomorrow is the last trading day of the week, month, and year. So, on Saturday morning, we’ll run through the long-term charts, recap some 2023 highlights, and take a peek into 2024.
***This is NOT financial advice. This is NOT a recommendation to buy, sell, or trade any security. The content presented here is intended for educational purposes only.
Andrew Moss is an associated member of T3 Trading Group, LLC (“T3TG”), an SEC-registered broker/dealer and member of FINRA/SIPC. All trades placed by Mr. Moss are done through T3TG.
Statements in this article represent that person’s opinions only and do not necessarily reflect those of T3TG or any other person associated with T3TG.
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December 28, 2023, 4:00 PM
Long: AMZN0119C155, AMZN0119C155.50, CHWY0119C25, TSLA
Options symbols are denoted as follows:
Ticker, Date, Call/Put, Strike Price
Example: VXX1218C30 = VXX 12/18 Call with a $30 strike