Wednesday, December 26, 2012

Either Way....

This is a brief post today.

Holiday flows are thin. The market can move either way. The Spoo has support at 1416-1418 which its touched 11 times on a 55 min chart since Friday's fiscal cliff drubbing. Resistance is at 1425-1428. If the market can hold its own, this can allow leaders to remain free enough to continue running. Seasonality begins to shift with January and the new year next week. The financials continue to hold up (famous last words).

So far, risk off in equities has been larger than risk off in high yield bond spreads (JNK/LQD, JNK/TLT), which is a positive. Equities are more twitchy than credit.

DDD and SSYS are again at all time new highs with RS line breakouts as well.  DDD is the leader between the two at this stage.

No comments:

Post a Comment