S&P 500: Alarm
Jingle Bell Alarm
This is an out of cycle note— the regular opening month letter will be issued on Sunday.\
At the close of regular trading hours today Dec 18, all three risk-off criteria were triggered following the S&P 500’s -2.95% daily decline. This is the fifth time the risk-off alarm has gone off this year.
On Sunday the introductory note read “Although caution is higher heading into next week than at any point in the past month, the outlook still leans bullish.”— conditions under Navigating The Short Term marked the significant of monitoring the 6000 level on the S&P 500. The stance quickly becomes one of caution into year end.