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December Stock Market Ideas

S&P 500 Target of 3,150 And The Importance of 2,950 Pivot on Volume

While many market participants like you and me are looking at the S&P 500 as a winner for the 25% rally this year, the key point is that as we move from November to December, we must understand that the month of December has been a winner historically. On average, this month has seen a 1.6% rally in stocks – and this could be the case again this year. The market does have momentum but in our humble view, it could pull back. Hence, we have said that we want to be flat from November 15 to December 5, anticipating a pullback. The end of December, could usher in a rally that starts sometime between December 20 and January 5 in the S&P 500, the Nikkei 225 and other markets as well, including the Russell 2000 which broke out during Thanksgiving week. The R2000 pushed back above the 52-week high which is generally positive for the general picture. As mentioned, we do think markets could pull back a tad, but we want to accumulate on dips for the next rally.

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