Daily Observations 21 December - Gap up, don’t mind if I do.
I don’t mind the gap if it gaps up. $SPY and the rest bounced back after days of decline.
Gaps everywhere! $SPY gaps for the second straight day but this time gapping up. The bears are nowhere to be found today as the bulls rule the entire day. All four major indices are flying high after days of declines.
- Today: 2 out of the 11 sectors are red: XLP and XLU.
- Best sector: Energy up 3% to 54.60.
- Worst sector: Utilities down 0.14% to 69.43.
- VIX retreats at 8.13% to 21.01.
- Crude oil /CL is flat at 0.63% to 68.66. Same as yesterday.
- TNX is up 4.79% to 14.87.
- TYX is up 2.60% to 18.97.
- Mind the gap. $SPY gaps up in today's session closing at $462.86. Are these gaps going to continue tomorrow? I don't mind if it continues to gaps up.
- Relative strength index climbs to 49.54. Higher than our 44.66 support marker.
- Volume declines to almost half of yesterday's 106M to 67M. Lower than the volume average of 74M.
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.