Home > Stock Market Strategy > WALL STREET CRAPS STOCK MARKET STRATEGY DECEMBER 1, 2018

WALL STREET CRAPS STOCK MARKET STRATEGY DECEMBER 1, 2018

December 1st, 2018

craps front coverSTOCK MARKET STRATEGY FOR DECEMBER 1, 2018: The stock market has gone straight up since its bottom on Black Friday. That day was marked by a new closing low that was not confirmed by the majority of breadth and momentum indicators. This is a classic “Granville Buy Signal” named for the infamous stock market analyst of the period from 1977 to 1983. From this point forward, after the strongest one week rally in stock market history, one could expect that the market to continue going higher in a zig-zag pattern until the end of the year. If you missed this last opportunity, you’ll have to buy on any short-term oversold conditions.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: The Fear/Greed Index is currently reading 22 or “Extreme Fear.” It should be in the “neutral” zone shortly with the continued rally in the stock market. Use any short-term oversold readings as a place to add to long positions through the end of the year. It looks like a “Santa Claus Rally” is in the cards for this year.

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