The video in this report is only accessible to members
The video in this report is only accessible to members

The near-term two-day pullback attempt hasn’t resulted in much technical damage, and the late snapback should set up for a push back higher into end of week.  As mentioned, while some might be eyeing the 200-day moving average (m.a.) as having importance, the real resistance lies above this up at 4110-4120.  This area would allow for both “legs” of our rally from mid-October in SPX to be equal. Furthermore, this area is intermediate-term trendline resistance from January 2022.  Overall, I don’t feel this week’s minor pullback is the start of the decline discussed earlier this week, but key support on any further weakness lies at 3850 and cannot be breached without changing this opinion quickly.  Overall, there has been some minor stabilization in both TNX and DXY over the last 24 hours.  If these get back over 3.91%, and 109.53, respectively, then I feel December could prove to be a tough month indeed for risk assets.  Until then, it’s right to stay the course expecting strength back up to 4120 area and particularly into early December. 

The video in this report is only accessible to members

Crude oil should bottom likely by next week and turn higher  

Energy looks appealing for gains back into end-of-year followin...

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