US100 ~ Ho Ho Santa Rally or EOY Bah Humbug Bust? (4H)

Dec 11, 2023

US100 chart mapping/analysis.

Nasdaq 100 consolidating into key macro economic news, much like S&P 500.

Trading scenarios into EOY:

• Bullish reaction to macro economic news = break above ~16167 trading range (yellow dashed) towards ascending trend-line (green) / red box confluence zone.
  
• Bullish extension target(s) = new historical highs surpassing ~16770 November 2021 high.
  
• Bearish reaction to macro economic news = break below ~15690 trading range (yellow dashed) + descending trend-line (light blue) towards 78.6% Fib / 200SMA dynamic support confluence zone.
  
• Bearish extension target(s) = descending trend-line (white dotted) / ascending trend-line (green) / Golden Pocket confluence zone.
  

Dec 14, 2023

Comment

US100 chart update (Thurs 14/12):

• Face-ripping rally off dovish Fed Pivot commentary.
  
• Expect bullish momentum to continue into EOY, breaking new historical ATH (~16772) &/or test ascending trend-line (green).
  
• Monitoring lower timeframes + indicators (DXY, yields, etc.) for any potential trend reversals to signal overbought conditions, TBC.