What a borefest! I haven’t posted as much lately simply because there is no fun in trying to comment on a market going sideways on all time-frame. We are still stuck in the range we have been in for the past 5 weeks but things may begin to stir up (or NOT!) with Nasdaq showing some leadership and closing above the trading range today. The Russell 2000 has also been outperforming over the last week or two and we are entering the phase of the month where seasonal factors kick in so we could well be breaking out within the next few days… or we could go on to continue the gap and nap pattern we have been trading in for the rest of our lives. Merry Christmas to all if the market decides to do nothing for the next few days.
Economic Data:
Tuesday: Final GDP q/q (2.8%), Existing Home Sales (6.29M), HPI m/m (0.2%), Richmond Manufacturing Index (4)
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- SPY DAILY
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- SPY HOURLY
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