Market is tired

US equity indexes closed a little weak, SPX -14pts (0.3%) at 4778. Nasdaq comp' -0.2%. Dow -0.2%. The Transports settled -0.5%. R2K -0.05%.

SPX - daily

VIX - daily

Summary

US equities opened in micro chop mode, broke a fractional new hist' high of 4808, and then slipped into nano scale chop mode. The closing hour saw some moderate cooling, with all the main indexes settling a little lower.

Volatility was subdued, if picking up into the close, the VIX settling +2.2% to 17.33.

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

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Midweek chop

US equity indexes closed a little mixed, SPX +6pts (0.1%) at 4793. Nasdaq comp' -0.1%. Dow +0.2%. The Transports settled +0.5%. R2K +0.1%.

SPX - daily

VIX - daily

Summary

It was a day of considerable chop, as the market is distinctly tired, after a powerful ramp from sp'4531 to 4807. Volatility was subdued, the VIX settling -3.4% to 16.95.
-

A fine winter's day

 –

Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

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Net bullish Tuesday

US equity indexes closed a little mixed, SPX -4pts (0.1%) at 4786. Nasdaq comp' -0.6%. Dow +0.3%. The Transports settled +0.02%. R2K -0.6%.

SPX - daily

VIX - daily

Summary

With a new historic high of 4807 it was a net bullish Tuesday. Volatility was subdued, the VIX settling -0.8% to 17.54. The s/t cyclical setup favours the bears... if only for a few days to the low 4700s. More broadly, 5K appears a given, whether within January, or a far more viable February with the Winter Olympics. 

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

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Starting positive

US equity indexes closed significantly higher, SPX +65pts (1.4%) at 4791. Nasdaq comp' +1.4%. Dow +1.0%. The Transports settled +1.2%. R2K +1.0%.

SPX - daily

VIX - daily

Summary

The last week of 2021 began on the most positive note possible, with the SPX clawing upward into the late afternoon to break a new historic high of 4791. Volatility was subdued, the VIX settling -1.6% to 17.68.

Sideline note...

I'd note that Tom Lee of Fundstrat has an official end 2022 target of 5100. Many of the mainstream will be highly inclined to revise their targets as the year proceeds. Yours truly is yet to settle on a number. I'll be sure to let you know.
-

The cold rains finally stop

The second glimpse of the sun in fifteen days

 

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

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Merry Christmas

 Merry Christmas to my readers, Twitter followers, and subscribers across the world.

 

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Christmas is for movies...

Krampus (2015)

Or how about something more recent...

Yours... will sit tight and assess, with thoughts of 2022.

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*the next post can be expected around 5pm EST, Monday, Dec'27th

Weekend update - US equity indexes

It was a bullish week for US equity indexes, with net weekly gains ranging from +3.2% (Nasdaq comp', R2K), +2.3% (SPX, Trans), +1.8% (NYSE comp'), to +1.6% (Dow). Near term outlook offers upside into early 2022.

Lets take our regular look at six of the main US indexes

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

–

Summary

All six US equity indexes settled net higher for the week.

The Nasdaq comp' and R2K lead the way upward, with the Dow lagging.

The Nasdaq comp' and R2K settled with bullish engulfing weekly candles, which bode distinctly s/t bullish.

More broadly, the SPX, Nasdaq comp', Dow, NYSE comp', and Transports are currently still above their respective monthly 10MA, whilst the R2K is below.

–

Looking ahead

The schedule is very light...

Earnings:

M -

T - CALM

W - FCEL

T -

F -

-

Econ-data/events

M - -

T - Case-Shiller HPI

W - Intl' trade, pending home sales, EIA Pet'

T - Weekly jobs, Chicago PMI

F - -

*As Friday is the last trading day of 2021, I would expect considerable chop, on distinctly higher vol'.

-

Final note

With an upward swing from the Monday low of sp'4531 to 4740, it was a week for the equity bulls. The turnaround was largely due to reduced fear of the latest C19 variant, but there are the usual other reasons, not least short covering, and bullish chasing.

If you look around, you can see the crash calling maniacs have once again crawled back into their dirty basements. When will they learn? Are they really still buying SPY Puts? Would they really prefer a US Govt' bond to OXY, AAPL, or MU stock?

We have just five trading days left of 2021, and whether we see indexes break new historic highs before year end or not until January... it makes little difference. This market remains m/t  strong, and I've few concerns until the late spring/mid year.

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Enjoy the Christmas break!

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*the next post on this page will likely appear 5pm EST on Monday.

Climbing into Christmas

US equity indexes closed broadly higher, SPX +29pts (0.6%) at 4725. Nasdaq comp' +0.8%. Dow +0.5%. The Transports settled +1.4%. R2K +0.8%.

SPX - daily5

VIX - daily3

Summary

US equities opened a little higher, and built moderate gains into the early afternoon. The late afternoon saw a new high of 4740 - just 3pts shy of a historic high, and cooling back to settling at 4725.

Volatility was subdued, with the VIX naturally ground lower into the Christmas break, settling -3.6% to 17.96.

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

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Battling upward

US equity indexes mostly closed on a positive note, SPX +47pts (1.0%) at 4696. Nasdaq comp' +1.2%. Dow +0.7%. The Transports settled -0.01%. R2K +1.0%.

SPX - daily5

VIX - daily3

Summary

US equities opened in minor chop mode, if leaning a touch weak. The bears could only manage 4645, with a broad push upward into the closing hour to 4697. Volatility was ground lower, the VIX settling -11.3% to 18.63.
-

One sunset closer to summer 2022

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 For details and offers, see: https://www.tradingsunset.com

Tuesday bounce

US equity indexes closed very significantly higher, SPX +81pts (1.8%) at 4649. Nasdaq comp' +2.4%. Dow +1.6%. The Transports settled +2.4%. R2K +2.9%

SPX - daily5

VIX - daily3

Summary

US equities opened broadly higher, largely helped by other world markets.
--

Highly recommended...

Something to think about.

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Biden... appeared.

 
The afternoon saw a push to 4651 in the final minutes. Volatility was ground lower, the VIX settling -8.1% to 21.01.
-

Winter solstice, as the battle toward summer 2022 has begun!

The waning moon

–

Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

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Rough start to Christmas week

US equity indexes closed significantly lower, SPX -52pts (1.1%) at 4568. Nasdaq comp' -1.2%. Dow -1.2%. The Transports settled -1.5%. R2K -1.4%.

SPX - daily5

VIX - daily3

Summary

US equities opened significantly lower, largely following both Asian and European markets. The fact that Senator Manchin announced he wouldn't support the latest stimulus bill only added to the downbeat sentiment.

The SPX spiraled to 4531, with a moderate latter day recovery to settle at 4568.

Volatility spiked, the VIX printing 26.19, but cooling back to settle +6.0% to 22.87.
-

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

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Weekend update - US equity indexes

It was a bearish week for US equity indexes, with net weekly declines ranging from -3.5% (Transports), -2.9% (Nasdaq comp'), -1.9% (SPX, R2K), -1.7% (Dow), to -1.1% (NYSE comp'). Near term outlook offers upside (if choppy), into Christmas.

Lets take our regular look at six of the main US indexes

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

–

Summary

All six US equity indexes were significantly net lower for the week.

The Transports lead the way lower, with the NYSE comp' most resilient.

More broadly, the SPX, Nasdaq comp', Dow, NYSE comp', and Transports are currently still above their respective monthly 10MA, whilst the R2K is below.

–

Looking ahead

It will be a short four day trading week, with the market closed on Christmas Eve.

Earnings:

M - CCL, MU, NKE

T - RAD, GIS, BB

W - KMX, PAYX

T - -

F - *CLOSED*

-

Econ-data/events

M - Leading indicators

T - Intl' trade

W - GDP Q3 (print 3), consumer con', existing home sales, EIA Pet'

T - Weekly jobs, pers' income/outlays, durable goods orders, new home sales, consumer sent'

F - *CLOSED*

-

Final note

We have just nine trading days left of 2021.

If you value my work on Blogger, Twitter, and want more of the same, subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com

Have a good weekend

--

*the next post on this page will likely appear 5pm EST on Monday.

Weakness into quad-opex

US equity indexes mostly closed on a weak note, SPX -48pts (1.0%) at 4620. Nasdaq comp' -0.1%. Dow -1.5%. The Transports settled -1.1%. R2K +0.9%.

SPX - daily5

VIX - daily3

Summary

US equities opened broadly weak, with the SPX taking out the Tuesday low, if only by 6pts to 4600. Whilst the buyers appeared, price action remained pretty unstable into the late afternoon, but that was pretty natural for what was quad-opex.

Meanwhile...

The LaPalma volcano is currently dormant. Certainly it could resume at any point, but each day it remains quiet increases the chances that will stay that way for another fifty years or so. For the residents... its an early, and most welcome Christmas present.
-

Volatility was twitchy, the VIX printing 23.26, but cooling back to settle +4.9% to 21.57.

–
Extra charts in AH (usually around 5pm EST) @ https://twitter.com/Trading_Sunset

Goodnight from London
--

 

If you value my work on Blogger, Twitter, and would like more of the same, then subscribe to my intraday service! For details and the latest offers, see: https://www.tradingsunset.com