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The Daily Observations 30 Nov

Daily Market Observations. SPDR sectors performance. SPY Snapshot.
The Daily Observations 30 Nov
Photo by Kyle Glenn / Unsplash

Hello everyone,

Quick note, we are now calling this segment The Daily Observations.  The same content as Market: The Good and The Bad.

Market Performance

Market Indices
  • Just when we thought the Omicron news is behind us, it is not.
  • The market retreat today by almost 2% across the board.
  • The VIX is up north of 18% at close.
  • TNX and TNY down shy of 1%.

Sector Performance

  • All SPDR sectors are sporting all red today.
  • Technologies (XLK) and Consumer Discretionaries (XLY) shamelessly leads the pack.
  • The worst hit are Communications (XLC) and Utilities (XLU)
  • Weekly percentage: XLE (flat at 0.00%), XLRE (-1.72%)

Daily SPY Snapshot

SPY Daily Chart
  • SPY is below the SMA30 once again.  
  • Relative strength index sharply changed direction.
  • Will it touch the SMA50 tomorrow? Goodness, I hope not.
  • Let's hope to see a bullish harami tomorrow and let the Christmas rally starts. It's first day December anyways, right?

Note: Not a recommendation.  Please consult an investment professional before making investing decisions.