Morning Notes – Friday December 9, 2016

Directional Bias For The Day: The futures are drifting higher or flat Futures breaking above a symmetrical triangle on 6-minute chart; resistance at 2251.50 Odds are for an up to sideways day Watch out for price to fall within the broken triangle Markets Around The World Markets in the East were mostly up – only Hong Kong and Seoul were down European markets…

December Brings Santa Claus Rally

“Santa Claus Rally lasts the final five trading days of the year and first two of next year. During this period, S&P 500 has been up 73% times since 1970 with an average gain of +0.8%.” “In November market’s price action turbo-charged it and gave clarity to many of the patterns that have been evolving for many months. The…