Looking for Upside, Here’s Why
Thursday I will look for some upside off this powerful bounce we saw in the last hour. It did come right into resistance so that coupled with the Initial claims in the pre market should set the mornings tone.
Looking for a Retest of Last Week’s Highs
Last week closed green, but remember the prior week was a big drop and we fell off on Friday to leave some interesting looking charts.
The Markets Close Out the Year
The markets end the year on Friday, and follow up with an extended weekend…
Economic Reports to Guide Today’s Trading
Wednesday brought more bulls out and gave us a little more volume to leave an accumulation day across the broader markets.
Focus on Retail and Housing Sectors This Week
Retail is likely to be in focus all week and housing probably will bring volatility with data due out this week on housing.
Nasdaq 100 and SOX at Critical Levels
Friday we can look for the economic data to set the tone and once released I would expect a very quiet market.
Look for Continued Weakness in the NASDAQ
Profit taking, light volume, lack of buyers, economic data all contributed to the last week’s losses.
Watch the GDP Report
Wednesday rolled out with a narrow range light volume down day across the broader markets.
The Nasdaq and SOX at Critical Levels
The strength in the S&P 500 is coming from financials and healthcare, however that cannot be sustained if tech, which also accounts for 14.3% of the index doesn’t participate.
Yesterday We Saw Correction On Light Volume
The market started off strong and ended up just off the days lows with the Nasdaq the weakest across the broader markets.
Quieter Times Ahead
Friday closed with a narrow range and very high volume.
Today’s CPI Report to Set Tone
Thursday came in with the northern winds and brought the bulls with them.