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Santa suddenly left the Market when everyone was expecting a Santa Clause rally.

spy

Unexpected year end profit taking hit the market as SPY had a pretty nasty sell off day since the election rally began. SPY closed right at 20 MA, 1st tap to 20 MA in a while. Interesting spot to see if Bulls can hold it here. If breaks , next support 220/212.60 zone. After such a big trend down sell off day, it might be a quiet or choppy trading on Thursday. We has a decent day in chat room, shorting high fliers like NVDA. As far as watch list,slim pickings,will be watching few names to see whether they hold or continue to sell off.
bc

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Needs to hold this channel over 8 day moving average else might have more weakness.

Needs to hold this channel over 8 day moving average else might have more weakness.

CVI Narrow range candles. Watching for a direction either way.

CVI Narrow range candles. Watching for a direction either way.

STLD Closed at trend line and below 20 MA. Needs to hold here else might have more weakness.

STLD Closed at trend line and below 20 MA. Needs to hold here else might have more weakness.

X Closed at trend line and 20 MA. Needs to hold here else might have more weakness.

X Closed at trend line and 20 MA. Needs to hold here else might have more weakness.

About szaman

Sayed is a veteran of the stock market, receiving acclaim for his hot stock watchlists. He trades in the Bulls room and blogs for the site, sharing his watchlist and market analysis daily.

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