Daily Observations 10 December

Market Performance

• All major indices rebounds from yesteday's modest pullback except for Russell 2000.

Sector Performance

• All 11 sectors finished green today.
• Best sector: Technology up 2.01% at 174.88.
• Worst sector: Communications up 0.05% at 76.70.
• VIX is down 13.39% at 18.69.
• Crude oil /CL is up 1.44% at 71.96.
• TNX is up 0.13% at 14.89.
• TYX is up 0.96% at 18.84.

SPY Snapshot

• SPY closed at 470.74.  A small distance away from the 55-day high of 470.65.
• Will this kick us off to the strong December month that historically was the case? Stay tuned.
• Relative strength index closed at 60.35.  Higher than 60.22 from 08 December. This supports my thesis of a breakout.
• SPY closed above its EMA9 of 464.8.
• Volume picked up at the back half of today's session to close higher than the last two days.

Market Climate

Disclaimer: I am not a professional investment adviser and my opinions are based on my own technical analysis.  Please consult an investment professional before making investment decisions.