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Daily Observations 23 December - Merry Christmas

Market delivers another hat trick today - all four major indices finished the day green.
Daily Observations 23 December - Merry Christmas
Photo by Lee Jeffs / Unsplash

May your days be merry and bright.  Yes, for the third consecutive day, the market finished green; all four major indices did.  

$SPY climbed higher and retested the previous 55-day high of 470.65 before closing at 470.60.   The next milestone will be at 473.54--the current 55-day high.

US markets are closed tomorrow for the Christmas Holiday.

Market Performance

Major Indices

Sector Performance

  • Today: 9 of the 11 sectors finished with positive gains.   Consumer staples (XLP) and Real Estates (XLRE) didn't get the memo today.
  • Best sector: Consumer Discretionary, for the second consecutive day, up 1.39% at 203.19.  Hint: $TSLA.
  • Worst sector: Real Estates down 0.30% at 49.94.
  • VIX continues to stay below the 20s. It's down another 3.60% closing at 17.96.
  • Crude oil /CL climbs 1.44% at 73.80.
  • TNX gains 2.47% at 14.93.
  • TYX gains as well 2.58% at 19.05.

SPY Snapshot

SPY Daily Chart
  • $SPY gains almost 3 points (0.62%) closing at $470.60; higher than the 30-day simple moving average and the 9-day exponential moving average.
  • Relative strength index climbs 3 points to 57.94; a few points away from our 60.35 resistance marker.  Now this worries me, as this may be a signal of a modest pullback on Monday.  Let's wait and see.
  • Volume continues to decline today to 55M; a couple of millions down from yesterday's count.

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.