The Daily Observations 03 December

Play by Play

• SPY didn't get a chance at the gate.  The bears was driving the whole time while the bulls ride shotgun.  It was a quiet ride downtown.
• At mid-day, I threw in the towel. I said, "This market is not going to recover at any point in the back half."
• Towards the last hour, in my last attempt to appease my inner voice,  I made a last play on $MSFT.  I placed a credit put spread order when RSI broke 34.85 and closed it minutes before the market ends.

Market Performance

Sector Performance

• Consumer Staples (XLP) and Healthcare (XLV) takes the top two spots.
• Financials (XLF) and Consumer Discretionary (XLY) at the bottom.

SPY Weekly Snapshot

• Are we ready for a bounce next week?
• Looking at the weekly chart, I am optimistic--and hoping--that a bounce is eminent.  Today's low seems to be bouncing off the horizontal support.
• Or, will the market take another week of red light green light shenanigans?
• I wish you a great weekend.  Let's go green next week. Cheers.

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