More on Mish’s Outlook 2024 – S&P 500 | Mish’s Market Hours

A passage from Outlook:

SPY’s all-time high was recorded in January 2022 at $479.98.

For now, the chart looks clear. If SPY goes above 460, we can expect more upside, at least until it gets closer to ATH.

Once these levels are resolved, we are in uncharted territory and our goals are difficult to predict.

On the other hand, $415 is a clear support level.

That statement was from December 1st. Here are some updated thoughts on what you can add to the great content in Outlook (I recommend getting a free copy):

December 22nd is the start date of the Santa Claus Rally. (Last 5 trading days) But…

“If Santa Claus doesn’t call, the bear might come to Broad and Wall.”

What does that mean now? SPY gets close, but doesn’t clear ATH. Extreme greed has taken a hit recently, with record influxes. People are confident that the Federal Reserve will cut interest rates in 2024. All the positives are so far ahead.

What about some of our predictions? If SPY closes below 470 at the end of December, January and 460 are key and pivotal. If SPY holds up and doesn’t fail, small caps and retailers could shine.

Click this link to get your free copy of Outlook 2024 and stay updated!

This is for educational purposes only. Trading involves risk.

If you are having trouble implementing the MarketGauge strategy or would like to see how we can help you do it, please email Ben Scheibe. Benny@MGAMLC.com, Head of Institutional Sales. Cell phone: 612-518-2482.

Contact us for detailed trading information on mixed models, tools and trader training courses. Rob QuinnContact our top strategy consultants.

Traders World Fintech Awards

Get your copy Plant a Money Tree: How to Increase Wealth.

Increase your wealth and plant a money tree today!

“I grew a money tree, and you can too!” – Misch Schneider

For stock recommendations and more, follow Mish on Twitter @market Minute. Follow Mish on Instagram at mishschneider for daily morning videos. To view updated media clips: Click here.

Mish appears on Business First AM on November 29th to make the case for Vaxcyte (PCVX) and makes the bullish case for gold.

Mish joins Nicole Petallides on the Schwab Network to talk about money supply, debt, consumers, inflation, and trends that could drive 2024.

Tuesday, November 28th on StockCharts TV Your Daily 5Mish offers six stock recommendations with specific, actionable plans.

Mish explains how Palo Alto’s technical setup and MarketGauge’s quantitative models found this winner in Business First AM.

Mish and Maggie Lake cover inflation, technology, commodities and stock picks in an interview with Real Vision.

Coming soon:

December 22nd: Yahoo! Jae Won

December 28: singapore morning radio

January 2nd: Last Bar with David KellerStock Chart TV

January 5: Daily briefing, Real Vision

weekly: Business-first AM, CMC market

• S&P 500 (Spy): 480 all-time high, 465 base support.
• Russell 2000 (IWM) 200 central and 194 support.
• Dow (HE): You should get 370.
• NASDAQ (QQQ): Resistance at 410 with support at 395.
• Local Bank (KRE): 47 supports resistance at 55.
• Semiconductor (SMH): There are 174 pivotal applications underway this month.
• Transportation (IYT): You must have 250.
• Biotechnology (IBB): 130 Pivotal support.
• Sleeve (XRT): There is now a huge gap in the last two days of the week that needs to be maintained.

Misch Schneider

MarketGauge.com

Director of Trading Research and Education