Stock Markets Analysis & Opinion

On This Last Trading Day Of The Year

Welcome to both the last day of the year and the last trading day of the year. 

Last night’s hard tumble has, by federal statute, been undone, and we are precipitously poised beneath a very clean topping pattern on the ES on a minute bar basis.

S&P 500 Futures Minute Chart.

The only asset about which I am enthusiastically bullish is gold. And, God bless it, it’s off to a pretty good start. May 2022 be a dynamite year for gold, people, and mysteriously form a pointy spike.

Gold Chart.

My largest position is puts on the SPDR® S&P Oil & Gas Exploration & Production ETF (NYSE:XOP), since I am loudly bearish on energy. This looks to be bleeding out nicely.

XOP Chart.

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