MARKET UPDAT DEC 21 2022 The SPX had pulled back about 7.5% in the past few weeks and as you know closed under its 3914 support level for the past few days In my last market update I indicated that a uptick in the SPX could happen yesterday — but it’s happening today I’ll take that Now it is possible that the SPX will just hang out around 3800 for a few days given it is the end of the year However technically speaking ( Dec 11th podcast ) I would expect SPX to test its next level of support at 3503 as 2023 begins Time will tell Energy or better known as WTI crude has made a nice comeback as anticipated I’m still a big fan It’s resistance level is $82 a barrel - it’s at $78 as I post So that’s good for your energy stocks Wishing you all a Happy Holiday

Posted by Suze at 2022-12-21 17:30:29 UTC