The cash S&P made another well-formed Doji candlestick today. Notice during this Q4 correction, the Doji stick has signaled major reversals. It is important the cash S&P closes above 2817 in the next few days in order to set the stage for the Christmas rally.
The S&P had rallied 6.43 percent from the Black Friday/Thanksgiving low below succumbing to profit taking today. Calling short-term market moves is a mug’s game but we suspect they are gonna pull out all the stops to rally ‘em. Follow the indicators on your panel as it’s foggy and there is some significant event risk.