It was a bearish month for US equity indexes, with net December declines ranging from -8.7% (Nasdaq comp'), -8.6% (Trans), -6.5% (R2K), -5.9% (SPX), -4.2% (Dow), to -3.8% (NYSE comp').
It was a bearish year for US equity indexes, with net 2022 declines ranging from -33.1% (Nasdaq comp'), -20.4% (R2K), -19.4% (SPX), -18.7% (Trans), -11.5% (NYSE comp'), to -8.8% (Dow).
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
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Summary
All six US equity indexes settled net lower for December. The Nasdaq comp' lead the way lower, whilst the NYSE comp' was most resilient. All six indexes have negative monthly momentum. Five indexes are under their monthly 10MA, the exception being the Dow.
All six US equity indexes settled net lower for 2022. The Nasdaq comp' lead the way lower, whilst the Dow was most resilient.
The SPX, Dow, and NYSE comp' broke new historic highs... all in January.
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Looking ahead
It will be a short four day trading week, with Monday CLOSED.
Earnings: -
-
Econ-data/events
M - *CLOSED*
T - PMI manu', construction
W - ISM manu', JOLTS, vehicles sales, FOMC mins (2pm)
T - ADP jobs, Weekly jobs, intl' trade, PMI serv'
F - Monthly jobs, ISM serv', factory orders
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Final note
The year settled on an appropriately bearish note. Whilst the mainstream cheerleaders and 'inflation is transitory' smart guys are hopeful 2023 will be better, the outcome is likely to be rather different.
It should be clear, 2022 never saw any panic or associated capitulation. This past year has merely seen equities stair step lower.
If I'm right about anything in 2023, it should be that we'll see panic and capitulation. I'd accept not all bear markets see it, but most do.
Perhaps the only thing to ask is... do you have enough popcorn and drinks for the big show?
For the latest
offers, see: https://www.tradingsunset.com
Have
a good weekend
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*the next post on this page will likely be the monthly/yearly settlements for ten of the World equity markets (due Sunday).
