News:
On Tuesday, markets welcomed the year’s final week of trading with continued buying.
The indexes posted another day of solid gains…
- Dow Jones +0.4%
- Nasdaq +0.5%
- S&P 500 +0.4%
- Russell 2000 +1.2%
Sector Round Up
All the 11 sectors ended Tuesday in the green. All the gains were tame.
At the top…
- Energy (XLE) +0.9%
- Real Estate (XLRE) +0.7%
- Industrials (XLI) +0.7%
At the bottom…
- Financials (XLF) +0.4%
- Communications (XLC) +0.4%
- Healthcare (XLV) +0.2%
Technicals:
The S&P 500 closed just 22 points or 0.5% below its all-time high on Tuesday…
Our outlook remains bullish as we enter day three of the “Santa Rally.” And new all-time highs appear to be a given.
Your latest readout…
- The VIX remains bullishly low
- RSI levels are overbought
- The put-to-call ratio is neutral
Timing:
The “Santa Rally” lasts 7 days. Today is day 3.
So far, the S&P 500 is up about +0.6%. The average return is +1.3%.
Watchlist:
*Low Float
^Open Position
*IMMX support at $6.50, resistance at $7.50
*MIGI resistance at $3
*ANY support at $3
*OPFI support at $4.50
*PLSE support at $12, resistance at $13
*SHFS support at $1.20
OUST support at $8
CRGX support at $20
NKTX support at $5
FUSN on watch
CENX support at $12, resistance at $13
ALT on watch
ARBK resistance at $3.50
^CIFR resistance at $5
LQDA support at $10, resistance at $11
GLYC support at $2.50
ABSI on watch
ASPN on watch
PRCH support at $3
Secondary watchlist—float about 100 million
ESPR support at $2.40
RKT resistance at $15
NMRK support at $10
AUTL on watch