By Licia Leslie
December 20, 2024
Hi Shoppers,
Here is my chart for the S&P 500 Index (Ticker: SPX):
The low both yesterday and Wednesday is right at the top of the gap created the day after the election which was also the low of the last pull back in November.
That is some pretty good support which sits at $5865.
Trading below there would close that gap and take the SPX down to $5783.
Resistance on the upside is at $5940 and then $6012.
Overall the chart is leaning bearish.
Trade Review
The jury is still out on Nvidia (Ticker: NVDA) as the stock is consolidating right at the neckline. Watch for a close below $129 before going short.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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