As said a couple of weeks ago we may not see Santa coming this year ( Will we see Santa this year?). So what is the status now about Santa?
Purely from the statistical perspective, the tendency is consistent that the last two weeks are generally more bullish than bearish. Here is the chart for Dec in average that we do see an uptrend for S&P.
Here is the current S&P chart, which does not look really bullish for a strong Santa to come. As you can see, we still see a strong ongoing MACD sell signal (top pink box). And S&P has broken down from a recent consolidation range (the lower pink box), which is TA wise quite bearish. Having said that, yesterday's second day decline since Powell's talk stopped just at its major support, the 50 DMA. and several short term indicators have already plunged into the oversold territory. With the seasonally bullish period come into play starting from next week, we may see some buying pressure in the next week or two. However, any attempt to bounce will likely more muted and short-live, as it has to overcome its strong overhead resistance not far away just above it. This tells me we could still see a min Santa Claus rally in the next two weeks but don't expect to be a strong rally and forget about FOMO, which will be especially risky for this year!I personally had placed some long positions yesterday in anticipating this rally but I won't be holding them for long. We will likely see a strong breakdown after this rally attempt, which may even trigger a run to a new low some time in the new year. Be very cautious now!! 
Here is the current S&P chart, which does not look really bullish for a strong Santa to come. As you can see, we still see a strong ongoing MACD sell signal (top pink box). And S&P has broken down from a recent consolidation range (the lower pink box), which is TA wise quite bearish. Having said that, yesterday's second day decline since Powell's talk stopped just at its major support, the 50 DMA. and several short term indicators have already plunged into the oversold territory. With the seasonally bullish period come into play starting from next week, we may see some buying pressure in the next week or two. However, any attempt to bounce will likely more muted and short-live, as it has to overcome its strong overhead resistance not far away just above it. This tells me we could still see a min Santa Claus rally in the next two weeks but don't expect to be a strong rally and forget about FOMO, which will be especially risky for this year!I personally had placed some long positions yesterday in anticipating this rally but I won't be holding them for long. We will likely see a strong breakdown after this rally attempt, which may even trigger a run to a new low some time in the new year. Be very cautious now!! 
👍🏻 👍🏻 👍🏻
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