According to the Stock Traders Almanac, the effect known as the “Santa Rally” starts today. Traditional the S&P 500 has returned 1.3% over the next 7 trading days. Boring…
There’s another effect known as the “Free Lunch” that’s already begun and traditionally returns 12% while the rest of the market returns 3%. This is the type of trades I’m interested in as a trader. So don’t get too hung up on the Santa hype.
Yesterday was another mixed close. The VIX continued to fall. All signs are still bullish.
Futures are pointing towards a slightly higher open this morning. The market closes at 1 PM ahead of the Christmas holiday.
*CYCC has support at $8.50
*POLA has resistance at $6.50
*FIII has resistance at $14.75
*EVOL has resistance at $2.60
*MOGO has resistance at $4
*FLY has resistance at $10
*GIK watching for a setup above $15
*EVGN has support at $4.50
FRSX is on watch
GNPX has resistance at $5.50
FLNT watching for a setup above $5
SEEL watching for a setup above $2
MBIO watching for a setup above $4
EMAN has support at $1.90
JAGX watching for a setup above $1
SENS has support at $1
UUUU has support at $4
OCGN has support at $2 and resistance at $3
FCEL is on watch
KOS has support at $2.40