2 min read

The Daily Observations 02 December

Market performance. Play by play of the SPY chart. SPDR sector performance.
The Daily Observations 02 December
Photo by Kyle Glenn / Unsplash

The market started strong and held on to its momentum towards closing.  It made higher highs along the way.  I was biting my lip everytime a new bar opens after a red one.  Bulls finally stuck around to finish the job.

Play by play

SPY 10-minute Chart
  • Pre-market softens a bit right before open.  I was watching /MES as it gave up its gain prior to opening.
  • Big green bar out of the gate but I didn't buy it just yet citing what we've seen yesterday.
  • Towards the middle of the day, I can finally breathe a sigh of relief as I saw the EMA 9 and 20 indicators were able to carry all those candles as each 10 minute passed by.  
SPY Daily Chart
  • We are observing another bullish harami forming in today's bar.  
  • Will it hold on Friday? Well let me just put it this way,  "It better (read my lips) hold".
  • In case you are wondering what those new lines are, those are standard deviations I setup using the regression channel drawing.

Market Performance

Major Indices
  • Market started and finished above water today.
  • No erectile dysfunction today like yesterday.
  • VIX is down 10.19%
  • TNX is up 0.98% while TYX is down 0.51.
  • BA tops the SPY and DJIA list with 6.94% gain.
  • DJIA movers are BA, AXP, V, and CRM.  Down at the bottom are AAPL, WMT, and MRK.

Sectors Performance

  • All 11 sectors are green today.
  • Energy (XLE) and Financials (XLF) took the top two spots.
  • Technology (XLF) and Healthcare (XLV) took the bottom end.

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