This Week: Crawling Into the Holidays

Wow, writing the header for this post was a tough one because it forced me to realize that this is the last full week of trading in 2023. It doesn't feel real, yet here we are. With that said, let's dive into what we've got going on this week in the markets. Surprisingly, it's quite a bit. While volume will typically fade off into the end of the week (and stay light until after the first of the year), there are enough news events to give us some festive volatility. Put on your holiday outfit of choice and dive head first into the Christmas (stock) Market.

This Week's Events:

Monday:

• Bank of Japan Monetary Policy Statement - 9:30pm ET (please note this is during the Asian market session, not during New York/RTH)

Tuesday:

• Eurozone CPI - 5am ET

• Building Permits - 8:30am ET

Wednesday:

• UK CPI - 2am ET

• Consumer Confidence - 10am ET

• Existing Home Sales - 10am ET

• Oil Inventories - 10:30am ET

Thursday:

• US GDP - 8:30am ET

• Jobless Claims - 8:30am ET

• Philly Fed Manufacturing Index - 8:30am ET

• Leading Index - 10am ET

Friday:

• PCE Inflation - 8:30am ET

• Michigan Data - 10am ET

• New Home Sales - 10am ET

Here are my big picture levels for NQ this week:

Current Price: 16843

Upside Targets: 17000 (should give QQQ new ATH) and then who knows

Downside Targets: 16767, 16564, 16448, 16313