Daily Observations 16 December
Welcome to Bearish Town. Just like that we are back to red light green ligh.
Just like that, we are back to red light green light game. The Technology and Consumer Discretionary stocks weighed down the $SPY today. Welcome aboard the whipsaw bus, if you look out to your left, you will see the Bearish Town.
Notables:
- $NVDA is down 6.50%.
- Both $PTLO and $TSLA down over 5%.
- $AAPL down 3.93% (last in $DJI).
- $MSFT down 2.91% (next to $AAPL in $DJI).
- $VZ up 4.33%.
Market Performance
Sector Performance
- Today: 8 of 11 sectors are up.
- Best sector: Financials up 1.26% to 39.46
- Worst sector: Technology down -2.83% TO 169.01
- VIX climbed back to the 20s up 6.64% to 20.57.
- Crude oil /CL is up 1.44% to 71.89.
- TNX is down 2.80% to 14.22.
- TYX is up 0.32% to 18.61
SPY Snapshot
- $SPY retreats back today to close at 466.45. It's still higher than the 9 and 20 exponential moving average; and higher than the 30-day simple moving average.
- Relative strength index finished at 52.22 in contrast to 58.27 from yesterday; higher than our 44.66 support.
- Volume retreats as well today compared to yesterday.
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
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