Despite the impressive performance of the U.S. stock market in 2024 (the first back-to-back 20%+ gains since 1997-98), it ended the year on a downer.
Maybe it was tax loss harvesting.
Maybe people were taking profits on their amazing gains.
Maybe people are scared of a pullback in 2025.
Whatever the reason, the market tanked at the finish line.
But are there still stocks poised to break out in the new year?
Of course!
And Ralph Lauren is one of those.
Chart here:
It’s been tightly consolidating in the past several weeks and could be ready to release that pent up energy.
A break above $237.16 could lead to a big new year’s run.
We’ll keep an eye on it.
Happy New Year,
Scott
Jack Carter is sharing his #1 Santa Claus Rally Ticker!
