Daily Observations 22 December - Hat Trick in the Making?
With the major indices up for the second straight day, will we see another hat trick tomorrow?
Even though $SPY Puts Sizzle Index was higher before the market opens, the bulls continue to push ahead with all four major indices closing green today. The market is up for the second straight day. Will we see another Hat Trick tomorrow?
The volume continues to decline as investors take the holiday break. We don't expect any difference in tomorrow's session. All US major markets are close on Friday.
Observations:
- Only four of the $DJI stocks--VZ, MMM, TRV, and NKE--were down today.
- CAT gains almost 2% at 202.10.
- MSFT and AAPL competes for second with 1.86% and 1.55% gains, respectively.
- On the $SPY stocks: ABT, ACN, F, GM, and GOOGL finished with above 2% gains.
Market Performance
Sector Performance
- Today: All 11 sectors finished green today.
- Best sector: Consumer Discretionary up 1.82% at 200.41.
- Worst sector: Communications up 0.25% at 77.42.
- VIX tumbles below the 20s. It's down 11.33% closing at 18.63.
- Crude oil /CL climbs 0.63% at 68.66.
- TNX declines 2.02% at 14.57.
- TYX declines as well 2.11% at 18.57.
SPY Snapshot
- $SPY gains 1% closing at $467.69; higher than the 30-day simple moving average and the 9-day exponential moving average.
- Relative strength index climbs to 54.9. Higher than our 44.66 support marker.
- As most investors starts their holiday celebration, volume continues to decline today to 57M from yesterday's 67M.
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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