Young Barry Dumas takes a look at the S&P 500 and Wall Street 30 technicals this festive season where a rally in both indices can be expected.

S&P 500 Trade Note:

Today I am looking to long the S&P 500 index from current levels. The index is also pushing higher looking to keep on smashing all-time highs going into the Christmas season.

Take note that there can be a possible pullback as shown in chart before the index pushes higher.

Trade: S&P 500

• Entry (Buy): current levels or 2659
• Stop loss: 2640
• Target price: 2680

Source - Bloomberg

Updated Chart 

Update S&P trade – managing the trade

I have moved my stop loss well into profit to the 2685 level, if this level holds my next target will be around 2700 on the S&P 500.

Trade: S&P 500

• Entry (Buy): current levels or 2659
• Stop loss in profit: 2685 - revised
• Target price: 2700 - New

Wall Street 30 Trade Note:

Today I am looking to long the Dow Jones Industrial index also known as Wall Street, it looks like the index just wants to push higher and break all-time highs all the time.

Looking to enter at current levels for the long trade or any pull backs to the 24450 level.

Trade: Wall street 30

• Entry (Buy): current levels or 24450
• Stop loss: 24101
• Target price: 24741

Source - Bloomberg

 Updated Chart 

I have moved my stop loss well into profit to 24741 and will be managing the trade from here to a new target price level of 25000.

Trade: Wall street 30

• Entry (Buy): current levels or 24450
• Stop loss into profit: 24741 - revised
• Target price: 25000 - New