Welcome to 2016 trading! Not the best way to end the year for the Market,
SPY again is back below all moving average and bear flag break down mode. Some minor support on 200 MA , 202 50 area and big range support at 200. Basically it has been stuck in a long range whole month of December. Leader stocks like AAPL. AMZN, NFLX, GOOG are weakening again. So it will be interesting week after the holiday and into new year. Oil /energy stocks had a good run on Thursday. We had decent gain trading OAS, WLL and called them out live on Twitter. I will be watching those names again, now that tax selling is over they might catch a bid into new year and might be “January Effect” play. Ideally on a red to green type move at open.
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