Santa Rally?

Outlook 12/24: Stock futures are flat Tuesday on Christmas Eve after all three major averages kicked off the holiday-shortened trading week in the green. Trading is expected to be thin this week. On Tuesday, the New York Stock Exchange closes early at 1 p.m. ET for Christmas Eve, while the bond market closes at 2 p.m. The market is also closed on Wednesday for Christmas Day. With few trading days in store, some investors are hoping for a Santa Claus rally to conclude what has already been a strong year for the market. And that’s not completely out of the ordinary. Stats since 1969 say the SP500 has gained 1.3% on average between last five trading days of the year and the first two in January.

ESH25 (MAR2025): YVAH 6042 YPOC 6023 YVAL 5995 GAP 6038

/ES Plan: Yesterday market closed bullish (PBT 6081), and overnight continues on that way, moving above previous value/range, so these're the opening and initial balance options for current session:

A) If market moves above YHOD 6043 with bullish internals, buy towards PBT 6081 HVE 6108 and FOMC SoC 6136 magnet.

B) If market moves below YHOD 6043 with bearish internals, sell towards GAP 6038 HVE 6036 and YVAL-HVE 5995 magnet.

Note: It's a holiday week. Many traders want to take their time with family. Trading is expected to be relatively muted during these days. Volume will be lower than usual but "Santa Rally" is still in play. Market needs an excess high to call an end to the current bullish auction.

Market Movers

10:00 AM Richmond Fed Index

11:30 AM 5-Year Note Auction

01:00 PM NYSE early close 

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