Market analysis for Tuesday Dec. 26th, 2023

Good Morning! I hope everyone had a wonderful and Merry Christmas. As a full time trader, its nice to get a "day off" every once in a while to recharge the batteries. I'm coming to you this week from the city of lights, Paris. This means I'm working 8 hours ahead of my normal schedule so my trades will be coming later in the day, closer to the power hour.  Let's get into our daily analysis.

Futures are showing green once again this morining. 

The heat map from last week continues to show a relatively strong, across the board strength with broad based market participation. 

The advance/decline line. The up/down volume and the stocks above the 50 and 200 DMA all look healthy. 

Expected moves for the week are up, ever so slightly considering its a four day trading week but I.V. is still miserably low compared to our heyday of 140 point expected moves. This will most likely mean we will continue to add debit trades into our credit trades.

Technicals continue to indicate the same data we've talked about for several weeks now. Yes we are bullish. Yes we continue higher but...it's looking more and more overstretched and while the bears haven't had much success in turning the tide, they keep trying.

The 5000 level continues to see ALL the volume. The market is betting heavily that we are topping here. 

Intra day levels for me today: 4822/4830/4835/4844 to the upside. 4808/4800/4794/4784 to the downside on /ES.