- the source for market opinions


December 30, 2023 | Tech Talk for Saturday December 30th 2023

Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

For 2024, look for North American equity markets to follow the U.S. Presidential Election  cycle. The Dow Jones Industrial Average in the fourth year of the U.S. Presidential Election years since 1930 has a history of moving higher. Average return per period is 8.0%. However, “Mind the Gap”. The 8% gain also includes a period of weakness averaging 1.8% from January 4th to March 14th. Given current extremely overbought levels (based on Percent of S&P 500 stocks trading above their 50 and 200 day moving averages), probability of a mild correction between January 4th and March 14th this year is high. See Momentum Barometers for S&P 500 and TSX stocks at the end of this report. Weakness into the correction will provide a renewed buying opportunity.

Download (PDF, 298KB)

STAY INFORMED! Receive our Weekly Recap of thought provoking articles, podcasts, and radio delivered to your inbox for FREE! Sign up here for the Weekly Recap.

December 30th, 2023

Posted In: Tech Talk

Previous: «

Post a Comment:

Your email address will not be published. Required fields are marked *

All Comments are moderated before appearing on the site


This site uses Akismet to reduce spam. Learn how your comment data is processed.