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