This Week's Stock Ideas

Monday, December 11, 2023

Good morning everyone.

We hope you enjoyed the weekend and are ready to make money. Also, congrats to all of you who caught last week’s monster trade!

We have been saying for two weeks now how U.S. Equity markets are in overbought territory, and not much has changed. Markets have not sold off, but they still struggle with resistance at these levels. We mentioned the S&P 500 needing to pull back or break above 4600. Below, we can see a slight close above 4600, but not enough to warrant higher conviction levels. We believe this week will provide some clarity as to the next significant move. Stay tuned! For now, we will continue to look for quick profits and avoid holding longer-term swing trades.