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Assessment: It’s been boring for the trading content, but there’s not much to do here. The market isn’t hard charging higher…just a slow grind which for short-term trading absolutely blows. You definitely don’t want to short this market because that isn’t work. So, you can’t buy at the high and you don’t want to short a non-moving market…leaves you with little to do but watch.
Combine all that with the outrageously low volume the past few months which is even lower now that we are in December. Then throw in the fact that the last two weeks of the month are dead. Maybe we get a Santa Claus rally, but we have almost had that the past few weeks. I rather sit back and wait either for a clear short entry (which is like finding a unicorn) OR let any selling play out and then buy on a dip…but we need a real dip first.
SPY Chart: https://sblk.io/s/Al7dUYcmSrspHE9
So, I am watching, but I don’t think there will be anything to do until next year.
Good luck in your trades!