Setting the Stage for Santa

(12/19/22) Remember we told you the first couple of weeks in December tend to be sloppy; this has come to pass. Markets have bee in a sideways trend since November, actually. Following last week's CPI report and the Fed's mire hawkish stance, market sold-off to break the consolidation range and the 50-DMA. The silver-lining in that action is that it sets up nicely for a "Santa Claus Rally." BUT...there is still potential for any rally to be somewhat limited. Please note: This is the time of year when professional traders have hiked to the Hamptons for the holidays, and the inmates are running the asylum, which sets up for a bit more market volatility on weaker volume. Meanwhile, portfolio manager are now tasked with year-end windo dressing, which provides opportunity for a bit of a rally to the 3800+ level. Also note, the consolidation range will provide some overhead resistance to any rally. We think there will be a tradable rally if you're willing to take on a little bit of risk.
Hosted by RIA Advisors' Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton
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