Christmas is coming, so let’s talk today about trading before Christmas.
Our special focus today is on US stock market. If you check charts for the last 10 or even 20 years, you will see that 4 days before Christmas we always had good buying opportunities and could make nice profits. Taking into account ATH manipulation in US market, I don’t think we will something other this year. So, look for and take buy signals in US indexes. Any way, the cycles are reversing, the market is overvalued – so, trade safety and use stops.
Another reason for rally before Christmas is tax bill fairy tale. Yes, It will increase debt, yes, social expenditures will be cut. But it will be later, not before Christmas. Now all are optimistic and happy.
Pay your attention to gold market. I don’t think we will see big trends at the end of the year. The only reason for possible significant moves can be profit booking.
For Monday I expect Gold will stay in a small range. So, scalpers, it’s your day!