Welcome to the Traders Market Intelligence Report, brought to you by WealthBuildersHQ.com. My name is Robert Roy, and this update is for Monday December, yup, December 4th, 2023. Hope you’re having a fantastic day, Man, it was a good trading day today. Let’s go ahead and jump right in. So we start off with the s and p 500 here today. We’re gonna bring this in a little bit. You can see the big picture of the S&P, but I just wanna focus on what’s going on right now. So the last six or seven days, we’ve had this kind of sideways, what I call a dreaded box of neutrality. It’s just kind of been do, do, do do, do do, do, do. Right? There was an old cartoon when I was a kid riding along on your automobile, right? That’s what it was. Just slow and steady, man. We had that one pop up. Ooh! And right back down again.

Today, good news, the rate hikes may be over. We get a little bit of a pop today. We’re up about 26 and jingle. We still have five minutes left till the market closes, right? And we break above that 4580 level. We run right up into the 5,000 level. Actually, let’s see exactly where we went so far. It may go up. We got five minutes left. Let’s possible break the high today. Our current high is 4599.39. Why did I wanna see that? Well, because I wanna go back and look at what that one right there was, right, that high right there was 4607.07. Very important level. Write it down. 4607.07. That’s the previous swing high that we had there. Or not swing high, but it was a swing high. But it’s the previous high that we had from where we are now, we’ve broken out of the highs, the previous swing highs, they’re gone, right? So we got a nice push. We’re back into that, you know, 4,600 level again. And now we get a little bit of hesitation, and I’m not surprised to see the hesitation taking place there. Very normal, very regular. I’m not concerned with it at all. Big move up so far today. I like it a lot, right?

How did VIX react to all of this today? Well, if we flip the switch and go look at VIX, we’re down another 30 cents to like 12.60, 12.62. Man, I mean, just low, very low. If we go back and look, it’s been a bit right since we’ve been back at 12 and a half. Okay, so where we gotta go to get to 12 and a half, right? So we had a bunch of 12 and a quarter right here and we’re looking back in 2020, right? That’s how long, how far back we have to go to get to those levels. All right? So really good move on the VIX to the downside. The S&P responding nicely to what’s going on. Breakout of that 4,600 to the upside, where does it go? We’re looking at 4661 is our next upside target. No fib needed in there. So it’s a great level. I’d love to see the breakout, the retest of the 4,600 and the bounce. If we fail, we’re in a bullish bias right now with a rank of two, right? If we fail right here,

Let’s go and do two things. One, let’s scrunch this so we get a, a good height in there. If we fail and break the 45 80 retest and drop, we’ve got the eight moving average, the uptrend line, the horizontal, the next horizontal fib line at 45, 42. Man, we just got a lot of choices to play with, a lot of opportunities, a lot of places that we could pull back to and get, find some support in there. So we’ve got a lot of strength right now in there. A lot of strength in there. So if we do pull back, we’re looking for the, the bounce to the upside. So what’s the overall outlook for next week? I think we’re looking bullish, barring news, and that’s really what it comes down to is news, right? Most of our earnings are out of the way. We’ve got one or two left coming up this upcoming week, but really not a whole lot. Most of our earnings are gone, and we’re good until sometime in late January before we start seeing ’em come back in again.

All right, with that ladies and gentlemen, there you have it. So go ahead if you, if you’ve got any insight out of this at all today, if anything, good, please go ahead,subscribe, bring that bell,put a like in there. Go ahead and drop a comment down below. All of these things help us in the algorithms. We appreciate all of your,your help there. Have a great rest of your day and I’ll see you all on Monday at our next update. Bye for now.

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