Still holding bullish bias - buoyed by consumer confidence & US Fed dovish comments re: 2024 rate cuts
Short-term outlook = price action appears stretched/overbought (IMO only) & needs a pull-back to Golden Pocket/200MA confluence for a sustainable rally into 2024.
Pull-back would coincide with SPX seasonality aka early December dip into Santa rally rip.
78.6% Fib level could act as target for shallower pull-back if punters are extra bullish, TBC.
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- Price action hugging descending trend-line (light blue).
- Still holding bullish bias - buoyed by consumer confidence & US Fed dovish comments re: 2024 rate cuts
- Short-term outlook = price action appears stretched/overbought (IMO only) & needs a pull-back to Golden Pocket/200MA confluence for a sustainable rally into 2024.
- Pull-back would coincide with SPX seasonality aka early December dip into Santa rally rip.
- 78.6% Fib level could act as target for shallower pull-back if punters are extra bullish, TBC.
DYOR.