The Stock Rally Continues Following the 2024 Elections, But for How Long?
US Equities continue to experience a strong move upwards following the elections last week. S&P 500 Index closed above 6,000 for the first time. The Dow Jones Industrial Average gained just over 300 points to close above 44,000 for the first time (remember, NVDIA officially replaced Intel in the blue-chip index on Friday, November 8 2024).
Below you can see the daily closing chart for the Dow Industrials and the S&P 500, along with the NASDAQ 100 Index.
As always, pay close attention to the trend lines and the Energy Model when studying the price charts on the Socrates Platform. When the Energy Model spikes well above its moving average, it is at a higher risk of losing momentum, which could mean a change in direction may be ahead. But, the Daily time level is most prone to higher volatility and price movement.
What do these market look like on the Weekly time level?
How about on the Monthly time level?
Remember, a change in direction can just be a short-term move or brief market correction, it does not necessarily mean it is a true change in longer term trend. This is why studying market behavior consistently, and across multiple time levels is necessary.
Log in to research these and other global financial markets. Go beyond the charts using the Global Market Watch patterns (monthly, quarterly and yearly in particular) and the Indicating Ranges on a monthly closing basis. See how - or if - price movement aligns with what different technical indicators and computer models are picking up on across various time levels (weekly, monthly, etc). This can help shed light on what might be ahead on both a short and long term basis.
Pro and Enterprise members can go deeper with the Reversal System and Timing Arrays, as they look for potential turning points ahead.
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With over 1000 global financial instruments to research, from stocks, commodities, bonds, and more, the Socrates Platform allows members to monitor financial market activity from around the world using price charts, technical studies, custom watchlists, unique indicators, and proprietary computer models (the Reversals, Timing Arrays, Global Market Watch, Indicating Ranges, and the Energy Model).
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