Goldilocks Finale – Last Day!
Markets are closing the bizarre year of 2020 at head-scratching (at least, for many) record levels despite the historic pandemic and 19+ million people on unemployment. Unprecedented levels of fed money sloshing around the economy seems to be pushing all the asset prices up. Will this trickle down to the Main Street or will it be confined to the Wall Street is going to be the main factor that would determine the markets’ direction in 2021.
The upper end of our models’ key range for this whole month – the 3710 level – is the immediate support, and our models sport a bullish bias while the index is above it on a daily close basis. Models will be in indeterminate state between 3710 and 3680.
With the trading ranges getting compressed, our models are indicating no trading plans for today. We will see you in the New Year, on Monday, 01/04/2021.
WISH YOU ALL A HAPPY, PROSPEROUS, SAFE, AND HEALTHY NEW YEAR 2021!