Friday, December 15, 2023

Charts for Dec 15, 2023

A rather quiet day in SPX. Not a surprise after the recent surge.

Market charts:

* 444 SPX stocks in bullish mode. Downtick.
* BullsPower at 58, BearsPower at 6.
* Number of pP signals climbs to 347.Over 20% of all stocks are with a pP signal. A very high number that will not be sustained very long.
* Market stays very high above the Envelope. That will get corrected, through price or through time.

* BMO goes up and could make another +2 peak.
* ELC and BUD stay bullish.
* The Repellor is now at 4526 and rising.
* Market bumps into the upper limit of the Blue Snake (4741). That should offer some resistance.

* SPX Rotator keeps climbing.
* The red component keeps climbing and we wait for a significant >50 high.
* Bands are surging.

* SwX is green - bullish.
* Daily MoM goes up and is almost back above +8.
* Our first upside target at 4777 is within reach.

* Icebergs algo has seen green mountain pick back up and almost back above +4.
* Since those very rare "pink salmon" in late October the market is up almost 600 points.

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