Even with the shortened holiday week, the NA indices were able to log new all-time highs as the SPY has now closed above the 10-day SMA 36 days in a row.
Small factoid from the folks over at Quantifiable Edges but since the SPY’s inception in 1993, this has only happened 1 other time – February of 2019.
That being said last year’s December drop is still fresh in the mind of many market participants as many investors and traders alike are asking will we get a repeat of last December’s selloff?
In this week’s video, I review the possibility of a large market drop and what to look for that would signal a major reversal.
Watch this week’s Weekly Outlook video to see the setups and levels we’ll be watching.
I also look at the technical outlook for the VXX SPY QQQ IWM DIA EEM TSX TLT GLD BTCUSD ETHUSD EEM and more for the week of Weekly Market Outlook For – December 2 – 5, 2019.
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