BY LICIA LESLIE
December 17, 2023
Hi Shoppers,
The S&P 500 Mini Futures (Ticker: ES), Invesco QQQ Trust (Ticker: QQQ) and Apple (Ticker: AAPL) are all at double tops here.
When we zoom in on each of these charts there is more going on.
ES has two spinning tops off the very bullish candle created on Wednesday:
Spinning tops usually for consolidation or a box range before taking the next leg, in this case, higher.
Above this level, the resistance comes in at $4909.
QQQ had a possible hanging man on Thursday but Friday’s action negated that, now they are spinning tops:
Next resistance comes in at $409.
AAPL doesn’t look as clear cut. Thursday’s candle with those long upper and lower shadows is called a high wave candle and means mass confusion.
Friday didn’t give us a sign of direction but look at that volume on Friday:
Next resistance in AAPL comes in at $207.
We may get a few more days of consolidation, but at this point these charts are looking bullish.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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