It was a broadly bullish end to a fractionally bullish week, the SPX settling +60pts (0.9%) to 6834, which made for a net weekly gain of +7pts (0.1%).
sp’weekly1b
Summary
SPX: a fractional net weekly gain, having bounced from 6720. This weeks candle is black… leans s/t bearish. Look to the prior black candle in early November… which played out.
This week’s candle is spiky from the weekly 10MA.
Weekly momentum weakened a little, and is marginally negative.
The s/t (see hourly chart) cyclical setup leans net bearish.
The ‘Santa rally’ officially begins Dec’26th… so the bears arguably only have three days at most.
—
Dear Subscriber
Some perspective…
With just 6.5 trading days left of the year, the SPX is currently net lower for December by -14pts (0.2%). Monthly momentum is ticking a little lower. We’re set for another monthly settlement above the monthly 10MA (6330), as the mid/long term trend remains bullish.
–
Gold & Silver
Gold, weekly
Gold climbed for the fourth week of six, and stands at $4337.
Weekly momentum remains moderately positive.
A new hist’ high >4381 appears due within 1-3 weeks.
Natural targets… 4500, 5000
Silver, weekly
Silver climbed for the sixth week of eight, breaking a new hist’ high of $67.23. Weekly momentum is increasingly positive, and is on the VERY high side. Next resistance zone 70/75, and then giant psy’ $100
Ongoing upside might seem Krazy to some, but this comes after a FORTY FIVE year breakout, above the 1980/2011 double top of the $49s.
We’re only ‘month three UP’, since the October breakout.
The situation is comparable to gold in the 1970s.
Talk of silver $1000 by 2030/32 can begin.
–
Four green exits
I had four green exits this week, all via the silver ETF of SLV. I shouldn’t complain, but it never feels enough. If I can get one green exit in Christmas week… that’d be something.
Other than silver, I remain rather obsessive about DECK and UNH, which I see as key ‘signal’ stocks, offering a potential clue as to what the main market will do in 2026.
Decker’s is trying to break above the key 10MA.
Monthly momentum is due to turn positive Feb’ or March.
Computer’s PF target: $150
Unitedhealth is lower for a third month, but price structure is a multi-month bull flag. Monthly momentum due to turn positive in Feb’ or March.
Computer’s PF target: $395
Ideally, I aim to trade SLV across Q1, with background holdings in DECK and UNH. I should probably also own GLD.
–
Miscell’ things
*I will be inclined to add some extra things (as they appear) late Friday/Sat’, so check back at least once this weekend.
–
–
If I sound tired, its because I was.
–
Bullish sea miners!
–
Ohh, its that guy again.
–
Why? $480bn a year of QE will help prop things up across 2026.
–
The Rosenberg usually merits your time.
At 53mins, go get a coffee first.
–
Lin with guest Kumar.
–
The weekly wrap on geo-politics is highly recommended.
–
The Celente.
*The UK has been in ‘dragflation mode’ since early 2022.
–
The weekend
Two days to rest/recover, and work a little.
I’ve sideline entertainment from Gold Rush, and probably a movie.
Its been a profitable week, but I’m struggling. I’ve worked the entire week from my bed, as I can’t sit in a chair due to my back.
If this is the ‘best I can expect’ – in terms of health, from here onward, I’m done, and will quit sometime in Q1. I’ve suffered enough in this monster-infested hell.
When was the last time I went outside, four, five, or six weeks ?
It seems my life came to an end July 12th
… and I should consider myself already dead.
I will hope life in your world is considerably less problematic.
As ever, feel free to message me via X, Disqus or email.
Sincerely, have a restful weekend, and goodnight from London
yours… Philip
—
The weekend post will appear Sat’ 12pm EST @ https://tradingsunset.blogspot.com, and will detail six of the US equity indexes (weekly candle charts)
re: X… I might post a few things, but I don’t think I’ll ever return to what I used to churn out. Besides, broadly… its all been a complete waste of my limited time and energy.
Videos are easier. Less typing, and maybe I can capture a bigger audience.
A vain… thin… hope.
–
Saturday…
It wasn’t easy, but I made it outside for the first time in at least a month. A few things look different. Winter solstice is Sunday morning… and then the long march to summer 2026.