S&P 500 │ 2023 Still An Inside Year

 S&P500 (weekly candles)

The 2023 yearly target remains above the January 2022 high at 4,817. Price currently above Level 2 and above the July 2023 third quarter's high. 2023 is still an Inside Year, inside of the 2022 price range. The 2023 fourth quarter is an Outside Quarter. Eight trading days left before the year closes for another 120 to 140 points up into the Level 3 price target at 4,857 or even 5,000. From there a retracement down to around 4,587 - 4,440. The seasonal chart points to the 2023 high around Dec 26 (Tue). See also: The Yearly Market Maker Breakout Template.

 

S&P500 (4 hour bars)

Week Dec 18-25 sideways-to-up; Year-End-Rally;  early January 2024 high around 5,050. 

 

The Yearly Market Maker Breakout Template │ S&P 500 Index 2018 - 2023

S&P 500 Index - 2018 to 2023 (blue line = 3 week moving average)

 

In the Yearly Market Maker Breakout Template price expansion takes out 

(1.) the High  

or 

(2.) the Low 

or 

(3.) the High and the Low 

of the previous year's price-range. 

 

Though price started expanding to the upside since the first week of 2023, 

neither the high nor the low of the 2022 price range has been breached by mid-December.

2023 remains an 'inside' year.

S&P 500 Index (15 minute bars) - December 5 to 13, 2023 (golden line = 3 day moving average)

Price currently moving within a bullish Weekly Market Maker Breakout Template;

printing new daily, weekly, monthly and quarterly highs.

Price range of Wednesday, December 13 (FOMC-day), the narrowest since weeks - so far.