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

Technically the broad-based participation higher in multiple sectors in the last month is certainly a positive heading into 2024.   While near-term risk/reward doesn’t seem favorable for those with timeframes less than two to three months, the recent overbought readings have not signaled any evidence of giving way.  I’ll be watching for evidence of any hint of trend reversal in the days ahead.  If this fails to materialize until January, than a larger than normal correction likely would occur into February of 2024.

US Equities and Treasuries look extended, but trends have proven resilient in recent weeks, with little or no evidence of any deterioration.  While Treasury yields and US Dollar index have shown some minor 2-3 day signs of trying to stabilize, this hasn’t yet translated into any material bounce.

This week normally represents a sub-par week in December for risk assets.  However, until some evidence of a reversal takes place, trends and momentum remain bullish but overbought.  Given the DeMark-based exhaustion that could be possible on a daily and weekly basis this week in QQQ (See charts later in this report) I feel that all-time high levels in QQQ and SPX likely d...

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