just a quick reminder here guys that we do have a full day of trading on friday, since xmas eve falls on a sunday. so no shortened trading day on friday. i've gone ahead and did my thread updates today since i'll be mostly MIA for the remainder of this week and the next. i just wanted to wish you guys all a very merry xmas and a happy new year in advance in case i didn't get a chance to say it before then! looking forward to the new year. should be interesting.
been MIA most of this afternoon, but just had a quick peak at the market now and noticed a pretty significant pull down in the indices from the morning highs. admittedly not sure if there was any news driving it (haven't gotten a chance to check yet), or if it's just really overextended and needs a bit of breather
i'm itching to setup an SCR (santa claus rally) spreadsheet to track how the SCR does this year. that could be an early tell for how next year might go (or not ). always interested to see how the SCR does, and to see how the full year does the follow year lol
here we go: https://docs.google.com/spreadsheets/d/1mRa9wS5xRpjChnbcL9IAt-9OuIBwP3oWb4L-GdL6D4E/edit?usp=sharing might also setup a quick SCR sentiment poll to see how many of us think we'll see the SCR (or not)
wasted no time and have setup the santa rally poll! https://stonkforums.myvnc.com/forum...town-and-deliver-a-rally-this-christmas.2164/ ^^ vote! will keep that poll open until this coming weekend.
I think we will see a SCR but I think we might begin to see some selling in the later part of January
No one wants one GM bought out nearly half of Buick dealers who opted against selling EVs https://www.foxbusiness.com/markets...f-buick-dealers-who-opted-against-selling-evs
US economist predicts 2024 will bring 'biggest crash of our lifetime' https://www.foxbusiness.com/media/us-economist-predicts-2024-bring-biggest-single-crash-lifetime
Lots of data coming out this morning...another selloff, or a rally to bring in the last of the retail investors for the big flush?...
Top of the morning StonkForumers! Happy Thursday to all of you and welcome to the new trading day and a frrrrrrrrrrrresh start. Here is a quick check on those futures as we are over an hour from the US cash market open. GLTA on this Thursday, December the 21st, 2023!
Good Thursday morning StonkForumers! Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone has a great new trading day ahead!
Here are some earning results from this morning and those reporting after the close today: ==========================================================================
Morning Lineup - 12/21/23 - Two Extremes Thu, Dec 21, 2023 Treasury yields are doing little this morning and equity futures are looking to reclaim some of yesterday's afternoon weakness. Crude oil and copper are modestly lower, while gold is flat. In Europe, stocks are lower as markets there closed before yesterday's afternoon reversal. On the economic calendar, there's a ton of data to be on the lookout for including revised GDP, Personal Consumption, Core PCE, jobless claims, Philly Fed, Leading Indicators, and finally the KC Fed report at 11 AM. It was a tale of two markets yesterday. In the morning, the S&P 500 rallied to new 52-week highs only to give it all back and more in the afternoon. By the time the closing bell rang, stocks were at the lows of the day and finished down over 1%. There aren’t many places in the world where you can go skiing in the morning and swim in the ocean in the afternoon, but the market did its version of that yesterday. While yesterday’s reversal was jarring, in the context of a daily chart of the S&P 500 ETF (SPY), it barely looks like anything more than a blip. Even after yesterday’s decline, SPY is more than 5% above its 50-day moving average (DMA) and more than 8% above its 200-DMA. While yesterday’s reversal doesn’t look like much on a one-year chart of SPY, in the ETF’s history dating back to 1994, reversals of that type have been incredibly uncommon. The last time the ETF traded at a 52-week high on an intraday basis but finished the session down over 1% was back in April 2014, and in the ETF’s near-30-year history, there have only been seven other occurrences before yesterday. In the chart of SPY below, we have marked where each of those prior reversals occurred with a red dot. As shown, none of the prior occurrences marked a significant top for the market.
Here is a final look at today's market and futures maps, as well as how each sector performed individually at the close on Thursday, December 21st, 2023.
And finally here are this morning's gappers up & down: Have a great Thursday trade to all. Gapping Up Gapping Down
Another pop-n-drop like yesterday?... Both Philadelphia Fed Manufacturing Index & Corporate Profits were pretty crappy
not a bad recovery today post-yesterday's flash smash job. markets have recouped over half of that dip. we're now down to just 5 trading days left to the year (what the?! ). it looks like if aths are to commence in the cash spx then we'll need to see a pretty strong scr (santa claus rally) period coming up. not too sure if we'll see it though, but we shall see