You should get rid of your little finger. 2023 will be the year of STAGFLATION (inflation + recession). I expect market chops of epic proportion, probably nothing that we've ever experienced.
%% Mr. Shax/Bulkowski has the DOW/DIA forecast for 2023, mostly up. Did forecast fairly well for DOW/DIA in \2008/2009. Most likely right +not really a prediction. That why thy call it weather forecasting, + not weather prediction. Sometimes its hard to read someone else's charts, but i measured on yours{- 20% down for 2022}, which is real close to SPX\SPY downtrend in 2022 Say JAN finishes down for SPY\ down year most likely for SPX\SPY. Stock Traders Almanac, 50 years to100 years \down JAN\88% chance of down year for S& P 500\SPY.
They are saying low risk bonds are currently returning over 10%. So the risky stock market doesn't look appealing in comparison.. I mean back when rates were almost zero, the line was "there is no where else to park your money, the stock market is the only game in town.."
I heard a few commentators say this, people like Gundlach, i dont really know enough about bonds to tell which ones they were talking about.
Secondary markets (such as TSX) are most of the time swayed by the majors. CL LOD (so far) is $74.31 doesn't bode well for up north. A least for the foreseeable future.
Santa Rally is the last five sessions of the year and first two sessions of the new year. Santa Rally was only about 0.7% in the S&P this year, typically after the end of bear markets it is around 5%. All of the Santa rally came today, up 0.75%. The other six days were flat. Still it wasn't a Santa Selloff, so not a bearish indicator either.
%% GS forecasted 2023+4% from 2022 close, WSJ.[S&P500\SPY]. DIA/DOW= fair uptrend. Main SPY trend is still down\down below 200 day moving average past 52 weeks.; + SPY closing down , again. NOT a stock tip. One female asset manager in WSJ figured a 2023 merry go round until Fed cut rates
+0.7% Guess some came up with a new definition of Rally - Santa variety or otherwise? Opening gap down wiped that out pronto.