The stock market has been quite choppy and moving sideways over the last month as we can see by this 60-minute chart of the SPY:
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We will most likely stay in this trading range for the remainder of the year.
We would expect that a Santa Claus Rally might take it back up toward the upper end of the channel, however if we were to break down through the lower bar, it would be extremely bearish.
As long as we are in this channel we would characterize it as a sideways market. When the channel is broken one way or the other we will re-evaluate the situation.
In the mean time here is a look at a couple of the Trade Plans open in the Research Lab.
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This gives a different view of the trades and shows the patterns that emerged to bring the trades onto our radar screen.
I hope everyone is enjoying the preparation for the Holidays and I want to take this opportunity to thank our members for their support.
We had some awesome picks this week in the Lab and hope our members were able to make some profitable trades.
We are looking forward to the New Year and have some really good ideas and features on deck.
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