Welcome to the Traders Market Intelligence Report, brought to you by WealthBuildersHQ.com. My name is Robert Roy, and this update is for Monday the 11th of December, 2023. Hope you’re having a fantastic day. I hope it was a great trading day for you. Man, it was a good looking day. There’s no question about that. Let’s go ahead and dive right in. So we look at the s and p 500. What did it do? Well, we’re, we’ve got four minutes left till the market closes, so we’re gonna kind of watch it tick right into the end.

We’re just above that 4,600 level. We are above the recent high or high end close. We got a higher high today and close. So overall, we’ve got a nice steady move up. We got enough compression happen over the last week, week and a half, and today’s breakout *magnifique*, right? Hold that, retest the 4,600 on Monday and bounce. And man, we got some great opportunities ahead of us. If that’s the case, we’re looking at 4661 as the next upside target.
We look at VIX. Here’s the fun part, right? You look at vix and we’re down to like 12 and a half. I mean, my goodness gracious. It’s like there’s no volatility at all. Volatility doesn’t exist at this level. There’s nothing. We’re back into 2019, 2018 levels when we’re getting back down into that that edge there, right?

If we look at a bigger timeframe, let’s go look over first at let’s go over to weeklies first, right? Let’s do weekly, not monthly. So weekly, we’ve broken out very nicely. I mean, very, very, very, very nicely, right? Good, strong move to the upside, nice pullback and a bounce. This makes, we barely had broken out on this week, but we did get above that level there, but we wouldn’t even call that one, two, three, four weeks above.

Now we’re still bumping our head from a weekly standpoint on that swing high that was made over there. We’re still bumping up to that a 4607, but you know, we’re talking about, that was July of this year, of ’23. So we’ve got some room to go to, to break out. But man, if we can break this level, there’s just, there’s a little congestion above head. A little bit of resistance to contend with. If we could break out the 4,600, the 4607 stay, retest, bounce, We’ve got 4825 is the next upside, 200 points on our weekly chart. We look at a monthly, monthly’s, not as pretty right, but it is good. We had a nice run up. We had this pullback. It was almost a reverse rising three pattern, right? Strong move in the month of November. Wow, that was massive. Moving there for the month watch. If we back this up, 374 points in the month of November, right? Right now for this month, we’re up 37 points. So it ain’t nothing great. We’ve kind of, again, played around a little bit at that upper level that we’re at. Now, push up on a monthly standpoint. Now we’re looking at 4818.62 and that takes us back into 2022. So we’ve got some work cut out for us to get to those levels up there. But overall, great opportunities.

If we go back one more time and look at a daily chart, I’m gonna go over to the S&P 500, what do I wanna see happen? Well, I started to mention it earlier, and there’s the close right into it, and we closed above the 4604.37, right? So we got above the 4,600. I need another, a little bit more of a move up, 4615-20 maybe, maybe 15 or 20, somewhere in there, pull back 4,600 bounce. I like it a lot. A whole lot. If that’s the case, 46,61 is our upside. If we break to the downside, 4580 is our first downside target, and we have that diagonal trend line in there. So there’s a little bit of support, hesitation, some, some reason to slow down there before we push and possibly break down through the next level. And by the way, there’s also an eight moving averages. So there’s really two floorboards in place, two levels of strength right there. Great confluence between those two.

All right, ladies and gentlemen, there you have it. Make it a profitable day and I’ll see you all on our next update. Bye for now.

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