S&P500 E-mini Levels For 12/2/2024

$ES_F Analysis & Game Plan

Big Picture: Bias is Bullish, Market In Upward Channel From October 2023 Low, $VIX Below 20 (complacency)

• Today´s Pivot is 6042

As highlighted in the Sunday Post, the stock market is entering December with strong Bullish momentum, supported by robust market breadth. Historically, December is often considered a strong month for the stock market due to several factors, including the so-called "Santa Claus Rally," tax-loss harvesting and overall positive investor sentiment during the holiday season. Over the past 50 years, the S&P 500 has risen in December approximately 73% of the time. The average December gain for the S&P 500 is approximately 1.6%, making it one of the most reliable months for positive performance. In rare instances, December has recorded losses, such as in 2018, when the S&P 500 fell around 9% due to Fed rate hikes. The graph below shows that December rarely is the worst month of the year.

h/t: IsabelNet