here's the chart to that first trading day of year stat translating to good full-year. we'll see if this comes to fruition by year end
yep you called it on friday, we needed a strong first day of the new year and that's precisely what we got. SCR looking good heading into the final day tomorrow. START: 2,684.57 CURRENT: 2,695.81 (+0.42%)
good morning! the pre-market movers & news thread has been posted- <-- click there to read! hope everyone has a great trading day in here for today.
nasdaq going a little nuts again too blow out # on the ISM report should bode well for the first SPX close above 2700 the mark today (absent a black swan) the SCR (santa claus rally) ends at today's close and it's looking really good thus far.
Definitely looking good for SCR Tech doing really well early on this year INTC not doing so hot though
barring some late day collapse in the market today, we'll likely end the SCR period in the green and make it 1 for 3 on the january early indicator trifecta. there is still the FFD (first five trading days of the new year) and JB (january barometer -- aka the full month performance for january) both of which are looking good thus far as well. should the FFD, and JB also end positive we'll have another trifecta (3 positives). when all three indicators, SCR, FFD and JB, are positive this has been the most bullish scenario for the next eleven months and the full year. in 28 previous trifecta occurrences since 1950, the SPX advanced 89.3% of the time during the eleven months and 92.9% of the time for the full year. that being all said, a january indicator trifecta doesn't necessarily guarantee that the year will be bear free. the three losing “'last 11 month” years, shaded in grey, experienced short duration bear markets. the follow table hasn't been updated yet to include the the 2017 stats, but still applicable. nevertheless, 2018 is certainly off to another great start and the prospects are looking pretty good for the full year.
vix back in the 8s i believe it was @stock1234 who was thinking we could see new ATLs in 2018? right now this would be a new closing ATL if it were to close here
Yes I think it is very possible that we will see new ATL for the VIX this year I probably would be a buyer of the VIX if we get to low 8s
Massive chip flaw not limited to Intel https://www.axios.com/massive-chip-flaw-not-limited-to-intel-2522178225.html INTC bouncing while AMD dipping after Intel defending themselves
haha. btw @Jrich i see we're only a few handles out from your 2720 (i think that was it right?) spx target from a few months back. another sweet call man! curious to hear your input for where you think we may go from here.
whelp, so far these first 2 trading days to start 2018 for the market is almost identical to last year's opening 2 days to the year. 2017: SPX on Day #1 +0.85% SPX on Day #2 +0.57% 2018: SPX on Day #1 +0.83% SPX on Day #2 +0.64%
ITA, a defense ETF, may be near a short-term top. The interim budget will run out on Jan 19th, and one thing Democrats may push for is $1-for-$1 increases in military spending with domestic spending.
so the SCR is now officially in the books and it was a good with the SPX up +1.06% in that 7 day period. now we see if we can register another january trifecta with a positive FFD and JB as i had posted about earlier today. here's a look at the updated table with 2017 #'s now posted-
