Chart of the Day - Friday, December 8, 2023

Today’s Chart of the Day was shared by Mike Zaccardi (@MikeZaccardi). The S&P 500 rose 0.21% this week, marking its first six-week winning streak since 2017. Mike points out that it's a good time to check on your long-term accounts with the index at a 20-month high. It broke out of a narrow two-week trading range today and cleared resistance at 4,600. This was the last major hurdle before testing the final boss of resistance... all-time highs at 4,800. With just 14 trading days left in 2023, the S&P 500 is just 4% from record highs, there's virtually no resistance standing in its way, and Santa comes to town soon.