Stay out of trading today and see you all NEXT YEAR
With the end of the year fast approaching, U.S. stocks received a wave of buying interest on Thursday. The Nasdaq led the rally among the major averages, climbing nearly 3%. Meanwhile, the S&P 500 rebounded after ending the previous day with its lowest close since the first half of November. The broad-based rally included gains in all 11 S&P sectors. This included greater-than-2% gains in Communication Services, Consumer Discretionary, Info Tech and Real Estate.
However, trading volume still remained thin, with a sizable number of market participants still on vacation for the holiday-shortened week. At the same time, a relatively light news flow will likely continue to leave the market without many catalysts to drive trading.
From tech side of analysis, QQQ is the first one to re-test October lows, SPX and DIA still have a long way to go (if there's nothing that drives trading upwards)
Today is the last trading day of 2022, so how about we stay out of trading today and take a break.
See you all , NEXT YEAR.