Ready for the "puke out"?

S&P is testing key support. You are receiving this email because you signed up to receive emails from True Market Insiders, rebranding to Sector Edge. [Unsubscribe here]( Keep the emails you value from falling into your spam folder. [Whitelist True Market Insiders](. Forgot your login information? Click [here](. [Image] Weekly Market Update Today is December 23, 2022 Hello and Happy Holidays! As we finish out the week and head into a three-day weekend, today is a big day for the stock market. Yesterday, revised third-quarter GDP data came in hotter than expected. Instead of the previous 3.1% Q3 growth, the growth level was revised upward – to 3.2%. Bill Spencer Editor-In-Chief True Market Insiders Plus, while the number of continuing (as opposed to new) unemployment claims grew, it grew less than expected. In the arcane world of economic analysis/chin-pulling, to “grow less than expected” is virtually the same as “to shrink.” This pretzel logic is similar to the “logic” used by politicians. In Washington, to increase the budget by less is the same as “slashing” it. Here’s a look at the S&P 5000 (SPY) as of mid-day yesterday. (Keep reading for an explanation of that ill-looking chap at the lower right-hand corner.) During one of our (many) talks about the market, my friend and colleague Costas Bocelli had this to say… “It will be Interesting to see how the week finishes out. Tomorrow [Friday 12/23] is the PCE price inflation data. “The GDP inflation today was hot, so if PCE is also hotter, it could spark a serious selloff to the October lows. “But if the market rallies, and closes above yesterday's [Wednesday’s] highs, then we may rally into the new year.   Below is a sponsored ad from our friends at Rogue Economics. Please note the results are from some of their best performing. Some opinions may differ from what you read in True Market Insiders. To opt out from receiving special offers [click here](. - Chris Rowe, Founder Stock market predictions for 2023 No one is expecting what she’s predicting, but she has a long track record of making accurate calls: the 2008 crisis... the 2020 market crash... and inflation back in 2021 before what we’re seeing now. Today, you can get in on her cutting-edge financial research before ringing in 2023. [Get it here now](   Costas went on to add, “If we [the S&P 500] break below 3,800, then here comes the puke out.” If you’re unfamiliar with the more elevated parts of technical analysis… “Puke out” (i.e. “capitulation”) describes a situation during late bear markets when the last bullish bitter-enders finally throw in the towel and sell before heading for the showers. As it happened, the S&P closed yesterday at 3822.39 – below Wednesday’s 3878.44. At one point during yesterday’s action it got as low as 3764.49 before rallying. So, “to puke or not to puke? That is the question.” As we’ve seen so often in 2022, this is a market that refuses to throw off clear signals as to what it wants to do. Yet, as I write these (deathless and beguiling) words, the market is up about 20 basis points – barely a quarter of a percent. And this is December 23, [the first day of what could be a “Santa Claus” rally](. This is one of the most reliable seasonal patterns, and this year it runs from December 23 through January 4. Check out these eye-popping stats… - During the seven-day Santa Claus Rally, the S&P gains +1.33%. - The Santa Rally period has been positive 79.2% of the time. - Every other seven-day period throughout the year returns, on average, +0.24%. - Every other seven-day period is positive only +60% of the time. It truly has been a remarkable year, one we’re unlikely ever to forget. Chris Rowe just released [a brand new video with his forecasts for 2023](. It’s a short presentation – about 10 minutes. And in it Chris reveals where Wall Street is putting their money for the new year. And he shows you how you can profit from this intel. [Click here now to watch it](. Thanks for reading, and Happy Holidays! Bill Spencer Editor-in-Chief, True Market Insiders   [7 Reasons Options Belong in Your Investing Toolbox (Part 1)]( [7 Reasons Options Belong in Your Investing Toolbox (Part 2)]( [7 Reasons Options Belong in Your Investing Toolbox (Part 3)](     You can [change your preferences here]( DISCLAIMER ©2022 by True Market Insiders, LLC, Protected by copyright laws of the United States and international treaties. 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