Traders,

Monday polished off the fifth straight day of selling. From tip to tip, the S&P 500 has fallen 7.8%. We broke below every major moving average and a key support zone near $3900 ($390 on SPY). This is shaping up to be one of the worst December’s in recent memory.

But there’s still time left on the clock for at least some relief if Santa wants to make an appearance. After today, we only have seven trading days left in the year. According to the Stock Traders’ Almanac, the so-called Santa Claus rally encompasses the last five trading days of the year and the first two of the new year. This seven-day spurt has historically gifted stocks with well-above-average returns.

If ever there was a year where Santa was needed, it’s 2023. Green days, baby. Give us some green days.

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Trading for Beginners: Gino’s Gems – The Number 1 Simple Trend Indicator

In today’s Gino’s Gems, Coach Gino talks about The Number 1 Simple Trend Indicator.

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Chart of the Day: S&P 500 (SPY)

In early morning trading Tuesday, an up day is starting to form. As always, it’s all about the close. Keep it up, bulls.

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Today’s line up

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

The Coaches Show 8:30 PM EST

This is our weekly MasterMind group. Join the coaches tonight, 8:30 PM EST to discuss the markets and help you prepare for the week.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only Matt and Tim can deliver.

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Financial freedom is a journey

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.

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