The Daily Observations 30 Nov

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

• 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 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.