Good Morning Team,
I hope everyone has a great holiday week!
The bigly thing for me is to see if we get more selling/distribution.
If we get more selling, a more defensive stance will be warranted.
If not, and the bulls show up, I'll look to slowly increase risk.
Keep in mind, we are entering a historically bullish period for stocks.
The last few weeks of the year tend to have an upward bias (a.k.a. Santa Rally).
We'll see if Santa visits Wall Street in 2024 or if the bears get the upper hand.
Here's a look at the week ahead
Key Events This Week:
Monday -
CB Consumer Confidence data
Tuesday - Christmas Eve Market closes at 1pm ET
Durable Goods Orders data
November New Home Sales data
Wednesday
Markets Closed, Merry Christmas & Happy Hanukkah!
Thursday
Initial Jobless Claims data
Atlanta Fed GDPNow data
I'll be back after the open with today's breakouts, setups, and movers UP on volume report.
Enjoy your day!
Adam
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