Correctamundo. Cash market & Globex are both closed on January 2nd. It will be similar to how it was this past Monday with the Globex (futures) re-open at 6pm eastern time on that Monday evening on Jan. 2nd Tuesday, January 3rd will be our very first trading day of 2017. Looking forward to that.
Seems like we've been stuck at that "40 points away" for a while now. We've just been parked at this level for days. How long has it been exactly? Edit: I just checked it has been since the FOMC spike on Dec. 14th which was the first time we got within 40 points of that 20K! About 2 weeks long. Maybe Santa can help with that effort though? C'mon Santa you can do it! Haha.
I think the low volume environment for rest of the year should bode well for the market to grind higher. I think it would get a lot more attention from the public though if we hit Dow 20K on the first trading day of January though
George Bush took office in January of 2001. At the end of Clinton's term we were entering or had entered a recession (If memory serves). The market was all ready entering into a correction from all time highs after what is now called the dot com bubble. The bubble didn't burst until the Republican president could take the credit. As you probably may already know, my theory is that Democrat administration receive much more favorable media coverage as opposed to Republican administrations. Therefore, it doesn't surprise me that we have high consumer confidence, again, at the end of another 8 year Democrat presidency. However, the old saying, "The bigger they are the harder they fall" comes to mind. Can we go up much from here? Or are we going to come back down to earth, hard, once again? I think you know my answer to that question.
Yea, sell off indeed -- interesting day! Opening bell pop to the smoothed linear regression line, as well as the resistance TL, before fading for the remainder of the day...doesn't bode well for tomorrow, IMHO. The AM pop did not quite get to the highs tested last week (Tuesday & Wednesday). Then, we saw 3x lower highs made throughout the day..and arguable 2x lower lows...though the end of the day sell off somewhat complicates this because it didn't make a lower low...it stopped almost exactly at the first pivot low of the day. So is the RUT truly running out of steam? Or is there just not enough interest (i.e. volume) to carry any more upside during this holiday week? We'll get another piece of the puzzle tomorrow...
My New year Resolution for this month Record job cuts, online trading scams, and mounting fears among working age Singaporeans of not being able to fund a comfortable retirement. These represent just the tip of the iceberg for Singapore's economy this year, and the general consensus is that 2017 will not be any better. While physical fitness and health goals top the New Year resolution lists of many, getting into (and staying in) good financial shape is a whole different ball game altogether.
This trend line continues to amaze me. This is hourly and goes back a little ways, I've posted it before in other threads.
Just expecting a pullback....unless critical levels get breached... Looking for something similar to sept move....Again they need to tap 20k for full euphoria mode
Wow, this is a huge drop for a company this size! TOKYO—Toshiba Corp. shares fell more than 20% on Wednesday, the maximum allowed for the day, after a warning about a multibillion-dollar write-down caused investors to flee.
I think you and I both feel that this market is going to drop and the less informed will blame Trump... BUT!!! ...Seeing that Fox news has a bigger audience than CNN, are you implying that Fox News gives Obama more favorable media coverage? The high consumer confidence could have more to do, amongst many other reasons, with us being at the lowest unemployment rate since the financial crash (this is an old chart from 2015, rate is even lower now): As much as the right wing blogosphere insists that Obama has destroyed America, when you drill down into the actual metrics, its really opposite. Stock markets are at all time highs, corporate profits are soaring, unemployment in check and the Fed is even getting cozy with finally jacking up interest rates! Things are overwhelmingly better now and the consumer confidence reflects that.
