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The video in this report is only accessible to members

Happy Holidays. Hope your holiday season proves safe, happy and healthy.  I will be taking the final week off to spend with my family during the holidays. There won’t be any written reports until January.  Thanks as always for your support and interest in my work.  Happy New Year!

Thursday’s decline on better-than-expected Economic data proved to be a far more severe setback than expected with just five days remaining, but near-term oversold conditions should still allow SPX to hold 3700 and produce a bullish bounce into end of year before additional selling.  Unfortunately, the technical structure looks quite poor when viewing its hourly pattern since November, and it might prove to be difficult for bounces to eclipse 3950 which was thought possible a few days ago.  Overall, I do like buying dips down between 3706-3767 for a bounce up to 3900-3950, but I’m skeptical given Thursday’s weakness that prices get over 3950.  As hourly charts show below, this is strong “neckline” resistance on hourly charts.  Rallies into end of year likely will stall out, and yield to cyclical downward pressure which could take SPX lower into late January.  Technology continues to be the “weak link”,...

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