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Thursday, January 04, 2024 2:20:39 PM
Santa Fails to Call, But Trifecta 2 Out of 3 Ain’t Bad
By: Almanac Trader | January 4, 2024
With the Santa Claus Rally a no show we will be watching for a positive First Five Days (FFD) and January Barometer (JB), the second and third legs of our January Indicator Trifecta. Since 1950 there have been only three occurrences when SCR was down and both the FFD and JB were positive. Two out of three of those years were up over 20% and 1994 was a flat -1.5% with a 14.8% average gain on all three.
There are only three down SCR years with up FFDs and JBs we present to you the other years with one of the Trifecta components down and the other two up. Of these 18 years 14 years were up and 4 were down with an average gain of 7.9%. 2 out of 3 ain’t bad for our January Indicator Trifecta.
Profit taking in January has become more commonplace in the last 25 years or so and January is notably softer in election years like 2024. But the selling over the past few days is notable and a warning sign. Don’t forget Yale Hirsch’s famous line, “If Santa Claus should fail to call, bears may come to Broad and Wall.” Click here for more
https://stocktradersalmanac.com/Alerts.aspx
Read Full Story »»»
DiscoverGold
By: Almanac Trader | January 4, 2024
With the Santa Claus Rally a no show we will be watching for a positive First Five Days (FFD) and January Barometer (JB), the second and third legs of our January Indicator Trifecta. Since 1950 there have been only three occurrences when SCR was down and both the FFD and JB were positive. Two out of three of those years were up over 20% and 1994 was a flat -1.5% with a 14.8% average gain on all three.
There are only three down SCR years with up FFDs and JBs we present to you the other years with one of the Trifecta components down and the other two up. Of these 18 years 14 years were up and 4 were down with an average gain of 7.9%. 2 out of 3 ain’t bad for our January Indicator Trifecta.
Profit taking in January has become more commonplace in the last 25 years or so and January is notably softer in election years like 2024. But the selling over the past few days is notable and a warning sign. Don’t forget Yale Hirsch’s famous line, “If Santa Claus should fail to call, bears may come to Broad and Wall.” Click here for more
https://stocktradersalmanac.com/Alerts.aspx
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
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