This rally is just money managers trying to chase assets and show their clients that they own all the right stocks. The SandP 500 E mini contract crossed the 000 mark to reach the 200 day EMA and now seems to be trying to gain enough momentum to break out. You must remember that the small business done while trading on Thursday would be very minimal and of course during limited hours. Advertisement IS MONEY READY TO WORK FOR YOU? TRADE NOW The target index itself was not open, but the futures and CFD markets were closed. That said, one of the things you should pay attention to the most is the reaction to the minutes of the FOMC meeting, which indicated that members of the Federal Reserve’s Open Market Committee are ready to slow rates. That’s why Wall Street is celebrating the fact that „cheap money” can come back. I don’t think it will happen anytime soon, but it could lead to a short-term deal. After all, this is the type of setup we see quite often at the end of the year called the „Holy Rally”. The market is volatile This rally is just money managers trying to chase assets and show their clients that they own all the right stocks. This is the game they play at the end of the year because most money managers can keep their jobs if they lose money if they have „real assets”. It’s all going to be interesting to see, but I think we have some short-term momentum that’s likely to last. On the other hand, if we reverse and break, the 3900 level can be targeted, with the 50-day EMA below it. Both can be very supportive, so if we break the role, the rally is likely to end. Our circumstances are very unstable and the situation will continue in the future. I don’t like the idea of ​​getting too one way or the other and the later we get into the air the harder it is to start trading again. The question now is not so much whether there is momentum, but whether we can break above the 150 level.