This Is A Market Warning Sign

December 19, 2022
Author: Peter Stolcers, Founder of OneOption

When the market does not rally into year end it is a bearish omen.

PRE-OPEN MARKET COMMENTS MONDAY – Last week the market rejected the breakout above the downward sloping trendline that started in December and it breached the 200-day MA with ease. As the week progressed, hawkish FOMC comments pushed the SPY below the 100-day MA and the upward sloping trendline that started in October. This is clearly bearish price action during a period where we typically have seasonal strength.

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