Welcome to the Traders Market Intelligence Report, brought to you by WealthBuildersHQ.com. This update is for Tuesday, yes, Tuesday the 26th of December, 2023. Remember, the market is closed on Monday. Keep in mind that everything we look at is for education. Nothing’s meant to be advice or recommendations. Excellent.

So as we look at the S&P 500 a few days ago, bam, bam, we get slapped around a little bit on Wednesday, Thursday, we kind of recover a little bit today. We got a little bit of a bounce as well. Let’s go ahead and take a look at where everything’s settled out. So we still have about seven or eight minutes left until the market closes here. If we look from the standpoint of where we are, we had hit a recent high here on Wednesday. We didn’t quite get up there today. It’s possible we could get there today, but I don’t believe it’s gonna happen. It’s not that. I don’t think there’s enough time left in there. The important thing was that pullback that happened on Wednesday came right down to that a hundred point level, which is 4,700. We had the eight moving average sitting right there as well, and we sat right there yesterday, took a little bit of a catalyst off it. We broke the 4727, which means our next upside target is 4793 is the next upside target with a 4,800 right there, right? So we’ve got a little bit of room yet to move up to that next resistance level. If we back it up and see what that resistance level actually represents in there, right? It is the negative one. So we’re at a point that we may be drawing this weekend, or actually on Tuesday when I do my next Power Option Plays, I’ll probably redraw the fibs on the S&P 500 here. It’s a great move we’ve had. That pullback is probably all we’re gonna get as far as from where we’re at now. So we’re gonna see, I’ll analyze it when we do Power Option Plays and if so, I’ll make the adjustments there and you will see it then next week. But overall, good pattern on the S&P.

If we look at the VIX, and actually, lemme just move this all outta the way. If we look at the VIX, you know, a little bit of a a move down today, 52 cents, nothing crazy. Now let’s go look at the S&P at a bigger picture rate, right? So let’s go look at a weekly chart. The weekly, right? Woo, we are just rocking and rolling baby. 34 points to the upside for the week, which isn’t crazy. The month’s not over yet, right? And we’re looking at 185, points up, this one so far.

So we go back to the daily, where’s our targets at this point? Now, now that we’ve seen the entire fib, the move down, we’ve got a 4727, there’s a confluence with the eight moving average. And that fib line on the upside. We already said that 4793, if we break that 4793, we’re looking at 4,900 as the next upside target. Once again, we’ll redraw fibs come to the beginning of the week and really wanna see what happens over the weekend with the overseas markets settling out into our Christmas where some are not.

And there you have it, ladies and gentlemen. Make it a profitable day. Stay focused on the question, becoming a great trader. Keep crushing it and remember you just one trade away. I’ll see all of you. Have a great holiday. Merry Christmas and I’ll see you all on our next update. Bye for now.

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