Stock Market Santa Rally to S&P 4600+

Stock-Markets / Stock Market 2023 Nov 28, 2023 - 08:01 PM GMT

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Stock Market Brief 28th November 2023 (12.30pm UK Time)

There is nothing in sight that suggests the Santa clause rally that started before Halloween is not going to continue into the end of the year, probable price pattern is for the next 2-3 weeks to be a bit volatile, i.e. we should see some sort of correction to take the S&P back below 4500 into Mid December with catalysts such as tax loss selling and the CPI report which will act to prime the fuse for the real santa rally spurt higher into the end of the year, likely to a new bull market high i.e. above 4610 over those 2 final weeks of the year, as those bears who shorted the minor dip die, we could even see 4700 breached!

This means Morgan Stanley's Mike Wilson has 5 weeks left to hit his 2023 target of 3900! Can he do it and claim victory just before the clock strikes midnight? I know, I know, they ALL got 2023 very badly wrong just as they ALL got 2022 badly wrong! But they will soon be busy coming out with their forecasts for 2024 as if they have any clue what they are doing, Mike, MIKE! MIKEYBOY! Save yourself a lot of grief and just become a Patron! It's only $5 bucks man! For that you would have been on the right side of the 2022 bear and the 2023 bull and for what's to come during 2024.

Talking about 2024, once "How to Really Get Rich Part 3" is complete that is going to be a ton of work to do to clear the fog that is the future with my target date for posting being Christmas day.

Whilst the mists of time are thick, my current stance is that 2024 should be another bullish year for stocks vs where they are today at 4545. Obviously if the S&P FOMO's to something daft like 4800 then that 2024 bull is going to find it tough to trade much higher than that, but in advance of a ton of work, I see the S&P at least attempting to break above 5000 as being probable, maybe during April, which is as far as I can see through the thick fog that is the future.

Bottom line stock market is overbought, it needs to unwind this state over the next 2-3 weeks before it goes bananas to the upside.

HGR3 is coming so ensure you gave read parts 1 and 2 so that everyone is locked and loaded to GET RICH rich during 2024!

Change the Way You THINK! How to Really Get RICH Guide 2023

Learn to Use the FORCE! How to Really Get Rich Part 2 of 3

Part 3 will follow in a few days time >

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S&P

Targeting 4600 Mid Summer 2023 Top, followed by correction to 4100 into Mid October before a year end rally to 4450+

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Your cryptos accumulating analyst.

By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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