Outlook 5 December

Another strange week, now with the market swiftly surging back to its October highs.
Volatility remains high, and any news item can turn things around quickly.

Let’s have a look at the chart for the S&P 500 Index (click for larger image):

We are back near the important 1250 support/resistance level. A break above 1275 would be a very positive development.
But a drop back to 1200 is at least equally likely , since we remain in a lunar Red Period.
The market remains highly uncertain, so I would stay on the sidelines.

Be well, Danny