12/19/2020 Weekend Update

[Cobra]

Up 1 week, the next week has 78% chances to make a higher high so probably still some up rooms the next week.

[merryme]

Just heard this sad news:
David H. Weis, author of TRADES ABOUT TO HAPPEN, passed away on 12/17/20.
He was a great trader and teacher.

[Al_Dente]

1) SPY volume BIG RED on Friday
2) issues advancing is still green
3) up volume is red, lower low. The last few times when UPV hit lower lows are marked with red arrows
Daily chart

[Cobra]

$AAII bulls - $AAII bears, as long as it's going down it's OK.

[Al_Dente]

The “Santa Claus Rally” begins on the open on Christmas Eve day December 24and lasts until the second trading day of 2021.
Average S&P 500 gains over this seven trading-day range since 1969 are a respectable 1.3%.
https://jeffhirsch.tumblr.com/post/6378 ... laus-rally

[Cobra]

Al Brooks still sees 10% correction. Maybe still some up rooms then down in January. I think most traders now probably have the same view which is interesting.

[Al_Dente]

Tesla enters the S&P 500 with 1.69% weighting in the benchmark, fifth largest
https://www.cnbc.com/2020/12/20/tesla-e ... rgest.html