12/30/2022 Live Update

[Cobra]

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Maybe it's a triangle here meaning bias is a little bit down (51%) because the trend leading to the pattern was down.

[merryme]

Trading from same chart today and next week until there is a breakout/breakdown. HAPPY NEW YEAR.
Thank you, Cobra for providing a great think tank blog.

[Cobra]

Members only update at 10:07 am
http://www.cobrasmarketview.com/2022/12 ... ay-update/

[Cobra]

So far it's just a range day. The range high has been tested 3 times so may not hold another test.

[JFR]

ES daily.

Still in the same base. 10 days. Inside bar.

[JFR]

ES 60 minutes.

Down through the Pivot, almost to S1.

[JFR]

ES 5 minutes.

Choppy from the opening. Now settling down, and drifting downhill.

[JFR]

https://www.marketwatch.com/story/u-s-s ... od=markets

Some excerpts from the article. Not my opinion, just information from a source.

U.S. stocks fell on Friday, on track for their worst annual losses since 2008, as tax-loss harvesting along with anxieties about the outlook for corporate profits and the U.S. consumer took their toll.

What’s driving markets

Stocks and bonds have been crushed this year as the Federal Reserve surprised investors by raising its policy interest rate more aggressively in 2023 than many had expected as it sought to crush the worst inflation in four decades. As a result, the S&P 500 index is on track to end the year with a loss of roughly 20%, its worst annual performance since 2008.

“It was a challenging year for traders to navigate an entirely new set of shocks triggering the third consecutive year of outsized market swings,” said Stephen Innes, managing partner at SPI Asset Management.

Stock indexes have slumped in recent weeks as the latest rally inspired by hopes for a Fed policy pivot wilted in December after the central bank signaled that it would likely wait until 2024 to cut interest rates.

On the final day of the trading year, markets were also being hit by selling to lock in losses that can be written off of tax bills, a practice known as tax-loss harvesting, according to Kim Forrest, chief investment officer at Bokeh Capital Partners.

[JFR]

Sector performance for the year.

Falling: XLC XLK XLRE XLY XRT. XLF also declined to a degree.

Rising: XLE

Chopping: XLB XLI XLP XLU XLV

[JFR]

Alternatives.

Results for the year on these ETFs.

[JFR]

Dow 30 results for the year.

Leading: CVX and MRK.

Trailing: CRM, INTC and DIS.

[Cobra]

Members only update at 12:10 pm
http://www.cobrasmarketview.com/2022/12 ... ay-update/

[JFR]

S and P 500, best performing companies for the year, along with their sectors and industries.

Not trading today, so far. Taking a break, after filing this market report.

[JFR]

ES 5 minutes

Down to S1. The market is active and strange. Nothing new there.

Smooth pre-open. Chop from the open. Smooth slide up. Plunge. Bounce. Slide down to support at S1. Place your bets.

[Serenity]

I don't know how they determine best performing, I have been watching some of stocks like ULTA, LMT and AZO has been perform better than many other stocks this year in S&P 500. ULTA is a seasonal stock.

[Cobra]

Breakdown the range low seems more likely now.

[jademann]

Anyone have a clue what to expect for next trading day in new year?

[Serenity]

Anyone have a clue what to expect for next trading day in new year?

Do you mean economic calendar year?

[jademann]

I mean the next trading day. We seem to be stuck in a range up one day and down the next.

[marcueus2]

Anyone have a clue what to expect for next trading day in new year?

Should be nicely down End year is only thing keeping market up