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Qqqq`s Will Break 43 Today Or Tuesday!!!
- Thread starter BlueStreek
- Start date
Quote from BlueStreek:
upside buy play broke through daily downtrend line......so looks like we will not get much follow through with this selling.
we were this close to doing some real damage today, but couldn`t bust through when we were down like 76 points in the dow about 30 minutes ago. A buy program came in to save the day.
of course a buy program would come in and save the day,
however if by any chance between now and 4pm we see a surge at the close expect a strong rally on Tuesday. Thats something I would be worried about if your short going into this 3 day weekend. We will see. 29 mins left.
Quote from S2007S:
of course a buy program would come in and save the day,
however if by any chance between now and 4pm we see a surge at the close expect a strong rally on Tuesday. Thats something I would be worried about if your short going into this 3 day weekend. We will see. 29 mins left.
In the last 2 years, the day after Christmas are big downs. Basically, people need to pay for the gifts. Housing refi is no longer the ATM...
[BRIEFING.COM] Stocks appear to be making a last-ditch effort to show the bears who's been in charge of this market all year long, especially since the market bottomed out in mid July. Most noticeably has been a turnaround in Consumer Discretionary, led by Computer & Electronics Retail (+1.6%), Department Stores (+1.0%) and Leisure Products (+0.8%) -- three of today's best performing S&P industry groups. However, if history is any indicator, recent recovery efforts will likely fall short of an overall turnaround since the last trading day before Christmas has finished to the downside in each of the last four years, according to The Stock Traders Almanac. On a positive note, the days after Christmas often produce a rally and, given the current tone in the market, it would be hard to bet against that from happening this year. Nasdaq -9.21 at 2406.64... NYSE Adv/Dec 1252/1956... Nasdaq Adv/Dec 1333/1658.
S&P 500 daily return day after Christmas...
1990 0.29%
1991 1.38%
1992 -0.14%
1993 0.67%
1994 0.57%
1995 0.38%
1996 0.64%
1997 0.40%
1998 -0.06%
1999 -0.09%
2000 0.71%
2001 0.41%
2002 -0.31%
2003 0.17%
2004 -0.43%
2005 -0.96%
last 2 yrs negative...sure
but up 10 in the last 16 yrs...
overall negative return day after Christmas is consistent with randomness.
1990 0.29%
1991 1.38%
1992 -0.14%
1993 0.67%
1994 0.57%
1995 0.38%
1996 0.64%
1997 0.40%
1998 -0.06%
1999 -0.09%
2000 0.71%
2001 0.41%
2002 -0.31%
2003 0.17%
2004 -0.43%
2005 -0.96%
last 2 yrs negative...sure
but up 10 in the last 16 yrs...
overall negative return day after Christmas is consistent with randomness.
interesting close, I really thought it would rally somewhat into the close given how strong these markets have been. This was a nice close for the bears. I think the markets could gain back some losses early next week, however going into the new year who knows whats in store. Im sure the "January Effect" will be mentioned all next week on cnbc.