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Summary
In today's "Cramer's Corner" daily update, Jim Cramer provides an in-depth analysis of various financial markets as of Friday, December 13th. Arm Holdings is a focal point, breaking a downward trend but facing hurdles. The S&P 500 exhibits corrective behavior while remaining robust towards year-end. Nasdaq 100 maintains its bullish stance with slight divergence. Commodities like gold and silver show mixed performances, struggling with resistance levels. Cryptocurrencies including Bitcoin and Ethereum are relatively stagnant, seeking direction. The video emphasizes that these observations are for educational purposes and do not constitute financial advice.
Highlights
Arm Holdings is testing key resistance levels after breaking a downward trend. 😮
The S&P 500 remains in a correction phase but shows signs of strength. 💪
Nasdaq 100 is experiencing divergence while maintaining a bullish trend. 🔄
Gold needs momentum to overcome critical resistance for upside potential. ✨
Bitcoin fluctuates around $100,000, with fragile bullish trends. 💸
Key Takeaways
Arm Holdings breaks a downtrend but faces resistance challenges. 📉
S&P 500 is in a corrective phase, but strength is expected towards the year's end. 📈
Gold shows potential but struggles with key resistance levels. 🏆
Bitcoin is hovering below $100,000, indecisive on direction. 💰
Ethereum remains range-bound, needing a breakout for movement. 🚀
Overview
Today's market update highlights the positioning of Arm Holdings as it attempts to break out of a descending trend line. Despite achieving a temporary breakthrough, it faces significant resistance and RSI thresholds that will determine its path forward.
The S&P 500 continues to show signs of a correction but retains its underlying strength ahead of the new year. Meanwhile, Nasdaq 100, despite minor divergence, is still trending upwards with bullish momentum.
Commodities like gold and silver are battling against formidable resistance, with Bitcoin and Ethereum caught in neutral zones, awaiting decisive market actions to spur movement in either direction.
00:00 - 00:30 good morning and welcome to kramas corner with daily technical update it is Friday the 13th so let's see if there's any scary about that date uh on the financial markets today remember this is for educational purposes only there's no recommend recommendation or advice whatsoever mentioned uh during this this is Live Events but uh uh it's the best education we can do so here we'll this morning we'll start with arm Holdings that has has broken this falling trend
00:30 - 01:00 line or this falling channel here currently testing or yesterday tested the uh the upper part of the cloud uh didn't close about just at the other part the RSI also closed just below the uh 60 threshold so it uh it's going to be interesting uh today can it actually break higher or will it slide back lower if it does close by above the cloud and our side closes above the 60 threshold well then there is upside potential back to resistance around 170
01:00 - 01:30 172 otherwise it will start sliding back lower on the um on the uh General index we have S&P 500 uh still a little bit in the corrective phase it didn't managed to break higher we are still in uptrend however but a correction a little bit lower could be still be seen down to 6,000 maybe a little bit lower um but I still think we will see it it it being fairly strong at towards year end and
01:30 - 02:00 going into the new year the NASDAQ 100 NASDAQ 100 uh also took a little bit of breather yesterday but still in a bullish Trend a little bit of Divergence as you can see this this peak here is lower than this one so there's a little bit of Divergence but uh the trend is still bullish so let's see but if it takes out the uh little uh beish cancel there at 21,33 then we could see a correction down to around 21,000 maybe a little bit
02:00 - 02:30 lower here pre-market we are currently up about half a percent so let's see how we open today Dow Jones is still in a corrective phase uh got hit a little bit yesterday again about half% uh very close to the 618 retracement at 43 753 I think we could test that maybe maybe a dip lower to the 55 moving average that is coming up here at and the 786 retracement at 43300
02:30 - 03:00 95 on the uh Asian market this morning we have H sang uh got hit by another round of selling uh almost 2% down as we speak uh if it takes out the 19,99 24 I think we'll do that we are resuming downtrend RSI rejected a 60 threshold and uh it could push lower in the coming uh in the coming week uh if it moves back above uh this little Spike up here uh
03:00 - 03:30 20542 there's potential to test that that massive bearish candle here and about 21,000 but really needs to close above that 2,070 to establish a a bullish Trend because this is a very bearish sign with where the sellers are massively in control from the beginning until the end of the session your stocks uh 50 uh little bit positive day yesterday uh indic a little bit higher we are in a
03:30 - 04:00 bullish Trend no Divergence uh we could push higher but we need to close above 5,000 for for higher levels um towards 5,75 and 5,100 and beyond that uh fairly strong support here around 4,900 the uh Dax index of also in a bullish Trend uh tested it uh previous alltime highs yesterday didn't close B but if we can get a close bu then I think we'll push
04:00 - 04:30 higher towards 21,000 we are a little bit stressed and I could have seen a a little bit of a correction uh down to around 20,000 but let's see if it takes out that little uh dip there at 20277 then we like you to see that we are slightly up here premarkets uh so let's see uh let's have a look at that um as we can see we're slightly up there so maybe we'll we'll break higher during today's session K on K 40 on the other hand still struggling once again tried
04:30 - 05:00 to get into this Gap area but uh got sold off and got hit it really needs to to close above 7511 and thereby closing this gap for any bullish uh uh move uh that is sustainable euro dollar is about to cancel this inverted shoulder head shoulder pattern we talked about the past few days that that could be the very likely uh outcome it's currently testing the uh lower part of the right
05:00 - 05:30 shoulder so if it's being canceled which I believe it will be well then we are seeing EUR dollar pushing lower to below 104 and down to around 10241 and looking at the weekly chart we can see where that comes from well it comes from these uh areas over here back from uh 2022 and just around one one um 38 projection of uh this uh of trend here uh that is broken barriers out so
05:30 - 06:00 there's some some support down there I think we'll get down to that level on uh cable or Sterling dollar Sterling dollar uh resumed the downtrend yesterday uh we talked about it that there was that risk because it couldn't get above the 200 moving average there was still negative sense M on the RSI and currently we are below back below 40 threshold if it takes out 126 uh uh 10 uh I think we'll see it sliding lower towards the previous lows here and there's no
06:00 - 06:30 Divergence on the RSI indicating we are likely to see a cable down there for cable to push higher you need to take out these Peaks here but I don't think they'll do it because we have the uh the uh the 55 and the 100 moving average coming down and the 200 is fairly strong resistance also the uh uh your Sterling cross uh bounced uh strongly yesterday continuing this morning has uh bounced from uh the
06:30 - 07:00 8225 which is just around these uh lows here back from uh 2022 I think we could bounce even further slight Divergence here on the RSI meaning that we could be in a in a stretched or Trend exha and I think we could bounce higher towards uh 83 uh let me just zoom in here 8311 maybe all the way up to 8335 and test this upper falling trend line in this wlik pattern here
07:00 - 07:30 dollar Yen still crawling a little bit higher but I think it will fade here just below 15325 153 30 could still uh Spike up to the 618 we are above the cloud but the RSI is still in a negative sentiment it needs to close above 60 threshold to to push higher so the indicators here are not agreeing so we have the 55 pushing higher we are above the 200 moving average we above the the cloud so that
07:30 - 08:00 should tell you well we are in a bullish Trend uh however the RSI needs to close as about 60 threshold let's see about that I think if we close above 153 uh 30 H then uh we get the RSI to confirm the bullish Trend and then there's potential higher towards 155 and maybe even up here in the 156 75 15770 level uh in the uh in the coming weeks and towards year and if we sliding back below the 55
08:00 - 08:30 moving average we can see 149 support coming uh under pressure again uh the Euro Yen basically dancing sideways here around the 382 retracement excuse me uh and at 160 and 20 so it can't really make it mind of if you see it's sliding back lower below 158 55 56 here and Dr RSI back below 40 fres so expected to resume downtrends
08:30 - 09:00 a again rejected at 98 uh yesterday uh could have another go if it does break it uh I think we'll see a push up to 99 maybe up to 99 at 77 which is 618 retracement and but then we have the 55 moving as average giving some resistance and also the 100 giving resistance here so it's it's really it's really uh really hard times here and also we have the cloud so it's going to be interesting if we SL a little bit back
09:00 - 09:30 lower we can see the RSI probably going back below 40 it's currently just above it and we are negative sentiment there's no Divergence indicating likly lower level Sterling Yen Sterling Yen rejected at the 55 and 200 moving a we talked about yesterday that that could be a little bit too strong to uh to really uh take out uh and it didn't even get up to the 618 retracement which we T discussed yesterday that it could have spiked up to that uh if it starts taking out 192
09:30 - 10:00 and a half and slides back below the Cloud area here expect um a further selling pressure down to 19 possibly lower honestly dollar um the bounce didn't uh play out yesterday it's got sold off towards the end of the session so we didn't get a botom reversal pattern that we discussed yesterday that we could have seen now testing these lows here again uh however it is a little bit stressed and if we look looking at the week chart we can see
10:00 - 10:30 what's going on we are back here towards these Downs here but this time it seems like it means business because the weekly RI is in a bearish sentiment um below 40 and it wasn't the other times here so I think we will see it keep sliding lower also all moving averages tilting over there that declining so I think we'll see aie dollar pushing lower in the coming weeks what is not pushing lower in the coming weeks is that dollar Canada dollar Canada is is pushing
10:30 - 11:00 higher we can see here it now reach the 17640 projections at 100 at 14242 um of this corrective phase here and we are pushing higher on the weekly and uh we are in this region here and we could push um well that that's the region back from 2020 and there's potential higher there's no Divergence on the RSI showing a positive sentiment there's little bit of Divergence here on the um Divergence here on the uh daily
11:00 - 11:30 RSI but we still in a bullish Trend and I think we'll push higher towards 143 in the coming uh uh week the uh Sterling Canada Sterling Canada in a correction phase um let's zoom in so we can see about that uh correction phase it didn't get all the way up there but very close to and then we have a correction hitting in we are in a bullish Trend there's positive sentiment on the RSI this B sliding back below 60 there's no
11:30 - 12:00 Divergence meaning H indic or indicating that we this is merely just a correction that could take it down to test the lower part of the cloud here um just around 179 uh 17970 no sorry 179 uh 17 it is sorry um but could Spike down to the 382 retracement at 178 78 uh I I think we will resume
12:00 - 12:30 uptrend after a correction phase M Swiss is on the Move uh bouncing from this support area here at around 9270 above 93 now above 9330 and I think it could push up to test the uh 55 moving average that is coming down here and back to the uh what was the 618 retracement here at 93 uh
12:30 - 13:00 56 um and the rising trend line here let's see if it can actually break above that and then Spike up to maybe the falling trend line up here in in this triangle like pattern that it actually broke out of and then it could demolish that but we have the 100 moving average and we have the Cloud area also being adding to the resistance up here so H let's see if it if it run this bounce will run out of steam uh also key will be can RI get back above threshold or
13:00 - 13:30 not if it does slide back lower below 93 30 then I think we can see this support area down here around 92 and a half 9270 uh being tested once again dollar Swiss really on the move and uh we discussed that PO stability yesterday when it broke above the falling trend line here I have deleted these trend lines over here that was forming a rising W like pattern uh it's they are soete now very strong move yesterday
13:30 - 14:00 higher and and straight through the 618 retracement of this correction phase here and also straight through the 786 and we're pushing higher and I think we could test previous Peak I actually think we will push higher towards 90 and 90 and a half area in in in up here um fairly shortly uh maybe even before years and but do expect a little bit of correction here a positive sentiment on the RS side uh currently no Divergence indicating lightly High levels and finally on the dollar Index
14:00 - 14:30 also on the Move uh pushing higher uh went straight through the uh 10673 yesterday that resistance there after being rejected at First Take and pushing higher now uh above the 618 where it stopped yesterday and I think we'll see it pushing higher towards the 108 and also possibly higher we can see it came after a correction phase that took it down to 50% almost down to the 618 retracement but let's remove that
14:30 - 15:00 one and now we can also remove that one and concentrate uh on the uh bounce there uh for for this picture to be demolished it well first uh first um clue will be uh below back below 10670 which I don't believe will happen uh but to re to totally demolish it needs to take out 10540 gold showed potential yes uh not yeah yesterday to uh just Spike above
15:00 - 15:30 the cloud and above the previous Peak here at 2721 and a half but then got hit by sellers we also got the RSI to close above 60 threshold right there so we actually in a positive sentiment but it seems to not follow me through so that is really a key uh resistance that it really needs to take out for upside potential and now it seems like we're just sliding back a little bit we're still above the 55 moving average 100 is still Rising 200 is still Rising so the
15:30 - 16:00 the underlying uh sentiment is bullish but it is it really needs momentum uh to close above uh this area here also silver silver got hit hard yesterday uh after once again trying to get above 32 uh 37 3230 around this level here got rejected run again and uh back below uh the cloud and back below the 3150 50 level so we caught here back
16:00 - 16:30 here in this range here and the RSI is also still in negative sentiment being rejected the 60 fres so really you can see how key this is it really needs to take it out uh with a with a push higher and for now it seems like it's really struggling also Coba couldn't follow through it did have some promising uh moves the past few days uh but it couldn't get above the 200 and the 50 F moving average was declining so
16:30 - 17:00 we could be stock range Bound in this area here what I will do I'll just clean up a little bit because it's not that um obvious but it's it's a little bit directionless at the moment uh I would say we we did have some promise bullish as uh Trend building up but the RSI didn't really support it by a close above 60 threshold so I think we could slide back a lower here toward back below uh 420 so sometimes you have to stay on the sideline a little bit wait for for really strong signals on crude
17:00 - 17:30 oil I'm just repeating myself every day we're caught in this range sideway it's range here between 62 6670 on the WTI and uh around 70 it seems like we have a falling tops so will we get a a little bit of a um uh triangle like pattern descending triangle like pattern maybe I don't know uh but let's see um still resistance up
17:30 - 18:00 here and around the cloud we're still negative sentiment so I will again wait to see I want to break out also on the brand crw up obviously uh that is not really moving it's just basically also sideways here but lower and lower uh Peaks here could uh indicate a bearish breakout but I want I want confirmation before that uh to occur at 72 but 72 um the dot g dot g uh close that Gap here yesterday
18:00 - 18:30 uh we were warned a little bit that it could occur but it was a little bit up in the air but it went straight through uh yesterday and it closed the Gap and it went down to the 618 retracement at 4242 where we are now we could see a little bit of a bounce I think it will bounce up to just below 44 and then maybe try to move back to the other gap area here we have we have um we had this double sub and band baby sub reversal pattern so that really played out the
18:30 - 19:00 double top we have reached the Target and uh we are testing some support here could uh we could see a bounce from current levels the uh hen well if I just one thing though if it starts moving lower it could also push all the way down to the 786 retracement of 40 and a half uh but then I think it's it uh I actually think we start bouncing here a little bit uh on the Henry hopas I was a littleit premature there Henry hopas tested the previous Peak here at 356 if
19:00 - 19:30 it takes it out well then there's potential up above a 364 which is the uh Spike uh back up Spike back here uh last year more or less at the same time last year uh just well it was a little bit earlier it was actually in October if it takes out that well then we're looking at levels above $4 yields are on the move and the US Treasury yields here's the 10year uh has pushed to uh resistance here at
19:30 - 20:00 432 uh closed above yesterday little bit below now we still have the uh RS sign that closing above 60 threshold I want to see that excuse me I want to see that for a bullish move and I think we are going to see that we have the 55 moving average coming up here uh giving some uh support underlying support breaking above the 200 moving average so the underlying support is there also above the area I think we'll seeing pushing
20:00 - 20:30 higher towards 442 but 450 is still the big key resistance um we have talked too much about over the past many weeks um so let's see uh we are in a bullish uh Trend uh just need confirmation from the RSI to that it will follow through the 2year also bouncing and we can see also the RSI climbing higher uh if we moving about 4 420 and 422 well then we are also back in bullish uh move towards that the previous Peak
20:30 - 21:00 head well there is fairly strong resistance with the 200 moving average coming down uh if it can get above that well then there's potential up to 4 and a half of 49 449 uh so um really strong there uh if it takes out the 403 402 down here well then uh the this uh bounce or bullish picture has been demolished on the um on the Euro Bond uh eurobond got hit by heavy selling
21:00 - 21:30 yesterday down to the 786 retracement at 134 13486 bouncing a little bit now uh could slide lower let's see about that but I think we'll start we will bounce a little bit uh more in the coming uh or today and going to next week but if it takes out the lows from yesterday expect a sell off down to around 13440 the um UK guilt also hit by selling uh not a big surprise really
21:30 - 22:00 couldn't get it really uh to stay above the 55 moving average there got rejected by the cloud uh despite RSI being in a bullish uh sentiment a positive sentiment I think we will slow we will slide back to the 618 at 9433 possibly down to 786 R TR at 9373 to demolish this picture first of all it needs to get back above the 55 moving aage and it really needs to close above 9654 which I don't think will
22:00 - 22:30 happen Bitcoin well not really that much of a move um hovering around just around 100,000 now we're a little bit below so it it can't really make up its mind should it continue higher or should we have a larger correction key support 9,682 um we're still in a bullish Trend but it is fragile is in exhaustive mood also ethereum uh caught in this range between 3 500 and 4100 really needs to
22:30 - 23:00 break out of that for any meaningful uh Direction all right that's all for today have a nice day and a nice weekend when you get to there talk to you again