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Stock bubble intensifies

David Llewellyn-Smith
Monday 9 December 2024
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The big picture

SPX continues trading inside the big trend channel that has been in place since last autumn. 50 day is down at 5900. Buying on any undershoot of the 50 day has been great. The longer term 100 day is down at the big break out level (5700). Supports: 6050, 5900, 5700.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.