Taking Stock -- Week of December 27, 2021

Monday, December 27, 2021

SP500 at the close ---  4,791.19   +65.40 (+1.38%)

DJI30 --- 36,302.38   +351.82 (+0.98%)

NASDAQ --- 15,871.26   +217.89 (+1.39%)

Russell 2000 --- 2,261.46   +19.89 (+0.89%)

The SP500 opened at 4733, up 8 points, and immediate;y rose to 4750. It then rose more slowly, reaching 4774 at noon and 4784 at 2:30.  After a slight draw back it rose into the late day hi, closing less than a point lower.  Last Thursday the index came within 4 points of a new intra-day hi.  Also on Thursday it reached a new closing hi by 13 points, and today it exceeded that by 65.

Elliott Wave analyst Avi Gilbert identifies 4677 as a critical support level to maintain the short term bullish case.  A significant break of that level means that a corrective phase is unfolding with further declines expected.  He also identifies 4788 [top horizontal line on the graph] as critical resistance.  An impulsive break through suggests further gains ahead.

The DJI30 opened at 35954, up 4 points, and immediately rose to 36077.  It chopped up and down for 45 minutes, then climbed again reaching 36187 at 12:15 and 36265 at 2:30.  After a slump to 36200 after 3:00 it rose sharply to close 4 points under the late day hi.  This index is approaching new highs, but has not yet achieved them.

The NASDAQ opened at 15697, up 43 points, and quickly rose to 15763.  After a brief draw back it climbed to  

155844 at 12:15 and after 2:30.  Following a slump to 15825 before 2:30 it rose to close within a fraction of the day's hi.  It is still 200 to 400 points under recent all time highs.

The Russell 2000 opened at 2242, up a point.  It slumped to 2230, off 11, at 10:00, then quickly rose, reaching 2255 at 11:15.  It ran horizontal above 2250 until after 3:30 when it climbed sharply into the close for the day's largest gain.  It remains about 200 points under the recent all time highs.

This is a nice follow up to last week's gains, and a good start to the week.  Maybe there is a Santa Clause.

Tuesday, December 28, 2021

SP500 at the close ---  4,786.32   -4.87 (-0.10%)

DJI30 --- 36,398.21   +95.83 (+0.26%)

NASDAQ --- 15,781.72   -89.54 (-0.56%)

Russell 2000 --- 2,246.51   -14.95 (-0.66%)

The SP500 opened at 4795, up 4 points.  It reached 4807, the day's hi, before 10:00.  It then dropped the rest of the day in two choppy looking steps, hitting 4780, the lo, at 12:30.  It then wandered into the close for a small loss.

It reached a new intra-day hi, but not a new closing hi, faltering within 10 points of the critical resistance level I mentioned yesterday.  But after 5 strong days, a slight pull back is not a surprise, and does not, on its own, impede the bullish case.

The DJI30 followed a roughly similar path, It opened at 36302, the day's lo, up a fraction, and reached 36527, up 225, the hi, after 10:00.  It also fell in two steps, hitting 36344, an intermediate lo, at 12:30, before chopping into the close for the day's only gain.  It remains about 40 points under all time highs.

The NASDAQ opened at 15895, up 24, and reached 15901, the hi, up 30, at 10:00. It had a bumpy ride down until hitting 15757, the lo, off 114, after 2:00.  From there it was a slight rise and fall into the close.

The Russell 2000 opened at 2261, off a fraction.  It reached 2275, the hi, up 13, at 10:00.  It fell to 2246, the lo, off 16, at 12:30, struggled to reach 2257 at 3:30, then drooped, finishing within a point of the lo for the day's largest loss.

Wednesday December 29, 2021

Yellow Arrow Sideways

SP500 at the close ---  4,793.06   +6.71 (+0.14%)

DJI30 --- 36,488.63   +90.42 (+0.25%)

NASDAQ --- 115,766.22   -15.51 (-0.10%)

Russell 2000 --- 2,249.24   +2.74 (+0.12%)

The SP500 opened at 4789, up 2 points, and dropped to 4778, the lo, off 8 points at 10:15.  It stayed under 4793 until 2:00, and reached 4804, the hi at 3:50, the dropped hard into the close for a small gain. 

The DJI30 opened at 36421, up 23, quickly reached 36509, up 111, then dropped to 36396, off 2, the lo, at 10:15. It stayed below 36509 until 3:00, and reached 46572.the hi at 3:50 before dropping hard into the close for a modest gain.  

The NASDAQ opened at  15795, up 13, and dropped to 15680, off 102 at 10:15.  It then stayed below 15777 until 3:30, hitting 15792 after 3:50, followed by a drop into the close for a small loss. 

The Russell 2000 opened at 2246, off a fraction, and dropped to 2237, off 10, at 10:15. It climbed to 2253, the hi, after 11:00. it snaked around neutral, staying above 2243 the rest of the day, then rising from that level after 3:30 to close with a small gain.

Today's action appears to be counter-current to the presumed short term up trend.  The SP500 has stalled within a few points of 4788, the critical resistance level identified by Avi Gilbert.  Pushing through that level with an impulse will validate the bullish case.

Thursday December 30, 2021

Yellow Arrow Sideways

SP500 at the close ---  4,778.73   -14.33 (-0.30%)

DJI30 --- 36,398.08  -90.55 (-0.25%)

NASDAQ --- 15,741.56   -24.65 (-0.16%)

Russell 2000 --- 2,248.79   -0.45 (-0.02%)

The SP500 opened at 4794, up 1.  It reached 4809, up 16, the hi, before 10:30.  It drifted slowly lower until 3:30, when it fell sharply, hitting 4775, the low, just 3 minutes before the close.  The 3 point rise at the end came on a volume surge.

The index remains stalled near the critical resistance level of 4788.  It did reach a new intra-day hi by less than 2 points, but missed a closing hi by 12.

The DJI30 36522, up 34, and quickly rose to 36679, up 191. It dropped to 36500 at 11:45, and wound around that level until 3:30 when it dropped hitting 36372, the low, 3 minutes before the close. It rose 26 points into the close on a volume surge.

The NASDAQ opened at 15759, off 7 points.  It rose to 15855 before 10:30.  I hovered near that level nutil 2:30, hitting 15868, the hi, at noon.  At 3:00 it fell hard, reaching 15729, the lo, 3 minutes before the lo. It the rose 13 points on a volume surge.

The Russell 2000 opened flat at 2249.  It rose to 2272, the hi, up 23, after 10:00.  It stayed above 2265, hitting the hi again at 2:45.  It then dropped hard, hitting 2247, the lo, off 2 points, 3 minutes before the close.  It then rose, ending off a half point. 

This appears to be a counter-current wave still unfolding.

Friday December 31, 2021

SP500 at the close ---  4,766.18   -12.55 (-0.26%)

DJI30 --- 36,338.30   -59.78 (-0.16%)

NASDAQ --- 15,644.97   -96.59 (-0.61%)

Russell 2000 --- 2,245.31   -3.48 (-0.15%)

The SP500 opened at 4775, off 4 points, and quickly rose to 4787, the hi, up 8.  It then fell and stayed slightly negative until 1:00.  It spent most of the afternoon chopping around neutral, but dropped vertically in the last 15 minutes to finish within a half point of the last minute lo, on a volume surge, for a small loss.

Today's action surrounded the critical resistance level identified earlier in the week.  So the year ends on a very uncertain note.  Is a counter-current wave unfolding, or is the index topping and ready to fall?

The DJI30 opened at 36386, off 12, and stayed in negative territory until 1:00, hitting 36304, the lo, off 94, before 12:30.  It then spend most of the afternoon above neutral, hitting 36485, the hi, up 87 after 2:00.  It also took a dive at the end on a volume surge, ending 34 points above the low, for a small loss.

The NASDAQ opened at 15723, off 19.  Ot quickly rose to 15777, the hi, up 36.  It dropped to 15694 around 11:00, and stayed close to that level until the last 15 minutes when it dropped to 15644, the lo, 1 point below the close.  It finished with the day's largest loss.

The Russell 2000 opened at 2246, 0ff 3 points, and climbed to 2258, the hi, up 9, after 10:00.  It meandered close to the neutral line until the last few minutes when it fell to close just a half point above the late-day lo.

These choppy losses over the last few days do not look impulsive; so I still think we are seeing counter-current motion within an upward trend.

Taking Stock - Week of December 20, 2021

Monday, December 20, 2021

SP500 at the close --- 4,568.02 -52.62 (-1.14%)

DJI30 --- 34,932.16   -433.28 (-1.23%)

NASDAQ --- 14,980.94   -188.74 (-1.24%)

Russell 2000 --- 2,139.87   -34.06 (-1.57%)

Not one minute was spent in positive territory by any of these indexes.  And they all lost more than a percent.  This is a thoroughly dismal start to the week.  

Elliott wave analyst Avi Gilbert identified the range 4550 to 4585 as a critical support level to preserve the short term bullish case.  Today's minimum was 4531, and the index stayed below 4550 from about 10:30 until 1:30,  finishing squarely in the support range.  The red line on the chart is at 4550.

So, despite the weak performance, the trend direction is still ambiguous.

Tuesday, December 21, 2021

SP500 at the close ---  4,603.84.  +35.82 (+0.78%)

DJI30 --- 35,492.70   +560.54 (+1.60%)

NASDAQ --- 15,341.09   +360.14 (+2.40%)

Russell 2000 --- 2,202.95   +63.07 (+2.95%)

The SP500 opened at 4595, up 27 points.  It dropped to 4583, the lo, after 10:30.  It rose the rest of the day, closing less than 2 points under the hi. It held support just below the 4550 level mentioned yesterday.  This is the highest close since 12/16.

The DJI30 opened at 35070, the lo, up 137 points.  I hovered near 35509, the hi, most of the time after 1:00.  The close was abut 15 points under the hi.  This is the highest close since 12/16.

The NASDAQ opened at 15140, off 29 points.  It dropped to 15015, the lo, after 10:00.  It rose the rest of the day, closing 8 points under the hi.  It held support at the 144 EMA .This is the highest close since 12/15.

The Russell 2000 opened at 2141, the lo, up 2 points.  It rose the entire day to finish a small fraction of point under the hi for the day's largest gain. It held support at the 144 day EMA. This close the highest since 12/10.

Wednesday, December 22, 2021

SP500 at the close ---  4,696.56   +47.33 (+1.02%)

DJI30 --- 35,753.89   +261.19 (+0.74%)

NASDAQ --- 15,521.89   +180.81 (+1.18%)

Russell 2000 --- 2,221.90   +18.96 (+0.86%)

The SP500 opened at 4650, up a point, and quickly fell to 4645, the lo.  It climbed to 4688 at 1:00, and after a slight draw back rose to 4698, the hi, just before and about a point above the close.

The DJI30 opened at 35492, off 1, and until after 10:00 bounced near 35433, off 60.   It rose to 35762 at 1:00.  After a slight drawback it rose to 35765, just before and 11 points above the close.

The NASDAQ opened at 15319, off 22. It quickly dropped to 15303, off 38, then climbed to 15492 at noon. After a partial drawback it rose to 15526 just before and 4 points above the close.

The Russell opened at 2202, off a fraction. It bounced further into negative territory, hitting near 2195, the lo, off 8.   It climbed to 2219 after 1:00, and after a partial draw back climbed to 2223, a few minutes before and less than a point above the close.

After a rather shaky start this was a day of solid gains.  The SP500 is approaching close to its recent all time highs.  But the other indexes are not.  Today's gains add support to the bullish short term case, but are far from definitive.

Thursday, December 23, 2021

SP500 at the close ---  4,725.79   +29.23 (+0.62%)

DJI30 --- 35,950.56   +196.67 (+0.55%)

NASDAQ --- 15,653.37   +131.48 (+0.85%)

Russell 2000 --- 2,242.75   +20.85 (+0.94%)

The SP500 opened at 4704, up 7 and rose quickly until 11:15 when it level off near 4730.  It climbed to 4740 after 3:45, then fell 15 points into the close.

The DJI30 opened at 35782, up 71 and quickly rose to 35970.  It ran near that level until 1:45, when it rose again hitting 36061, the high after 3:45, then fell 110 points into the close.

The NASDAQ opened at 15545, up 23, and climbed quickly until mid-morning.  It then climbed more slowly until 3:00, when it slipped a bit until 3:30, the rose to 1598, the hi, before dropping 45 points into the close.

The Russell 2000 opened at 2222, up a fraction.  After languishing for an hour it rose, reaching 2248, the hi, at 2:00.  From there, it was a bumpy 6 point slide into the close.

This was a day of substantial gains, only marred by the declines in the closing moments.  This could be the beginning of a down turn or just part of a counter-current wave at some lo level of trend, assuming this week's gains are impulsive. 

That wraps up this week, with the markets closed tomorrow in observance of the Christmas holiday.

Weekly gains -

SP500 + 2.28%

DJI30 + 1.65%

NASDAQ + 3.19%

Russell + 3.11%

Taking Stock - Week of December 13, 2021

Monday, December 13, 2021 

Red Arrow Down 

SP500 at the close --- 4,668.97.  -43.05 (-0.91%)

DJI30 --- 35,650.95   -320.04 (-0.89%)

NASDAQ --- 15,413.28  -217.32 (-1.39%)

Russell 2000 --- 2,180.50  -31.31 (-1.42%)

The SP500 opened at 4710, the day's hi, off 2 points, and fell to near 4670 from 11:30 to noon. It recovered to near 4690 from 3:00 to 3:30, then fell into the close, less than 2 points above the late day lo, on a volume surge.

The DJI30 opened at 35959, the day's hi, off 12 points, and fell near 35620 from 11:00 to noon. It slowly rose to 35790 at 3:45, then fell almost 140 points into the close on a volume surge.

The NASDAQ opened at 15621, off 9 points. It dropped to about 15420 for a while near noon. It rose to 15520 after 3:00, then fell hard after 3:30 to close only 5 points above the late day lo.

The Russell 2000 opened flat at 2212, the day's hi. It dropped to 2169, the lo, at noon, then recovered to 2195 at about 3:15. then fell15 points into the close for the day's largest loss.

This is a dismal start to the week, with each index starting at or near the high, then tumbling to finish close to the day's lo.

At this point, I have no idea if the current trend is up or down. I can justify an up trend continuing based on the SP500 chart; but the Russell 2000 looks like it is heading down.

Tuesday, December 14, 2021 

Red Arrow Down 

SP500 at the close  ---   4,634.09   -34.88 (-0.75%)

DJI30    ---  35,544.18   -106.77 (-0.30%)

NASDAQ   ---   15,237.64   -175.64 (-1.14%)

Russell 2000   ---   2,159.65   -20.84 (-0.96%)

The SP500 opened at 4643, off 26 points.  It fell to near 4607, the lo, off 62, from noon until 2:00.  It reached 4650, an intermediate hi, after 3:30, then fell under 4630 before a slight rise into the close.  At the lo, it was near the 13 and 55 day EMAs, and still above potential support from early September.

The DJI30 opened at 35606, off 45 points.  It bounced around near 35442, the low, from 11:00 to 2:00.  It rose to 35640 after 3:30, then fell under 35500 before a slight rise into the close.  At the lo, it was near both the 13 and 55 day EMAs, and a potential support zone from mid  August.

The NASDAQ opened at 15216, off 197 points.  It reached 15318, the hi, off 96, at 9:45.  I stayed near 15097, the lo, off 316, from 11:00 to 2:00, and rose to 15290 after 3:30.  It then fell to 15210 before a slight rise into the close.  It is hovering in what could be a support level from early September.

The Russell 2000 opened at 2179, off 2 points. It reached 2190, the hi, up 9, before 10:30, and fell to 2153, the lo, off 27, at 2:00. It rose above 2170 at 3:30, then fell to 2156 before  slight rise into the close.  At the low, it was in the vicinity of a support line going back a year.  A strong breach of 2160 would be a very bad sign.  

The idea that the current trend is up is still supportable for the SP500 and DJI30, strained for the NASDAQ, and highly suspicious for the Russell 2000. One way or another, the picture should offer some clarity before the end of the week.  Maybe.  I hope. 

Wednesday, December 15, 2021 

Green Arrow Up

SP500 at the close  ---   4,709.75   +75.66 (+1.63%)

DJI30    ---  35,927.43   +383.25 (+1.08%)

 

NASDAQ   ---   15,565.58   +327.94 (+2.15%)

Russell 2000   ---   2,195.21   +35.56 (+1.65%)

The SP500 opened at 4636, up 2 points, then stayed near 4611, the lo, from 10:00 until 2:00.  There was a sharp but bumpy rise into the hi, just 2 points above the close, with a volume surge in the waning moments. 

The DJI opened at 35549, up 5 points, and quickly fell to 35390, the lo, off 155.  It hovered slightly above that level util almost noon, when it began a slow rise that accelerated after 2:00. This led up to the late day hi, just 16 points above the close, ending on a volume surge.

The NASDAQ opened at 15231, off 7 points.  It slid down to 15055, the lo, off 182, before 12:30.  After 2:00 if started rising up to the close, ending only 10 points under the late day hi.

The Russell 2000 opened at 2160, up a fraction, and dropped to 3131, the lo, off 29 before noon.  After 2:00, it rose, hitting over 2199 about 20 minutes before the close, 5 points lower.

These nice increases are comforting.  But it is still unclear which way the indexes are heading.  One day is not enough to clarify things – so hang on for the next few days.

Thursday, December 16, 2021 

Red Arrow Down 

SP500 at the close  ---   4,668.67   -41.18 (-0.87%)

DJI30    ---  35,897.64   -29.79 (-0.08%)

 

NASDAQ   ---   15,180.43   -385.15 (-2.47%)

Russell 2000   ---   2,152.46   -42.75 (-1.95%)

The SP500 opened at 4719, up 9 points.  It fell pretty steadily to the4652, the lo, off 58, before rising to 4686, then sliding into the close on a volume surge, for a substantial loss, despite the hi and lo both being higher..

The DJI30 opened at 36036, up 109, and rose to 36199, the hi, up 262  It then fell to 35778, the lo, off 149, before 3:00.  It rose to 36025 after 3:30, the slumped to the close on a volume surge for a tiny loss.  Still, the hi and lo were both higher.

The NASDAQ opened at 15629, up 64 points, quickly rose 4 into the hi, then dropped to 15119, the lo, before 3:00.  It rose to 15245 after 3:30, then slid into the close for a huge loss.  Contra that, the hi and lo were both higher.

The Russell opened at 2197, up less than 2 points, and rose to 2216, the hi, up 21, before 10:00.  It fell to 2145, the lo, off 51, then stumbled into the close for a large loss.

This was a strange session with losses ranging from insignificant to massive, but higher extremes in all the indexes.  The Russell is hovering at its support level, with today's range surrounding 2160.  This appears to be a significant level, and a meaningful break lower could be a worrisome signal.

Friday, December 17, 2021 

Red Arrow Down 

SP500 at the close  ---   4,620.64   -48.03 (-1.03%)

DJI30    ---  35,365.44   -532.20 (-1.48%)

 

NASDAQ   ---   15,169.68   -10.75 (-0.07%)

Russell 2000   ---   2,173.93   +21.48 (+1.00%)

The SP500 opened at 4653, off 16 points.  It dropped to 4600, the lo, off 68, at 10:15, then rose to 4667, the hi, off 2, an hour later.  After a smaller drop and rise, it slid from 2:00 into the close, on a volume surge at the end for a substantial loss. The day's range is above the 55 dy EMA, and surrounds the 13 day EMA.

The DJI30 opened at 35800, the hi, off 98 points. It dropped to 35284, the lo, off 611, at 10:15, then rose to 36661 at 11:15.  From there tumbled the rest of the day, closing about 80 points above the lo for a substantial loss,   The day's range surrounds the 13 and 55 day EMAs.

The NASDAQ opened at 15037, of 144 points, and dropped to 14960, the lo, off 220. a few minutes later  It reached 15289, the hi, up 108 at 11:15.  It didn't drop below 15111 again, and snaked around neutral the rest of the day, closing with a tiny loss.  These values are above the 144 EMA , but below the 55 EMA.

The Russell 2000 opened flat at 2153, then dropped to 2125, the lo, off 28.  It hovered near 2186, the hi, up 34, from before 11:00 until after 11:30. It stayed above 2165 he rest of the day, and slid into the close for a substantial gain.  It is straddling the support level around 2160.

It's unusual for the Russell to gains when the other indexes are down.  This might all still be counter-current to the main thrust.  But which way that is heading is ambiguous.  That uncertainty itself suggests counter-current motion.  We'll just have to wait and see.

This week's losses were not enough to negate last week's large gains.

Weekly changes - 

SP500   –1/94%

DJI30  -1.68%

NASDAQ  -2.95%

Russell 2000  -1.71%

Taking Stock - Week of December 6, 2021

Monday December 6, 2021 

Green Arrow Up

SP500 at the close  ---   4,591.67   +53.24 (+1.17%)

DJI30    ---  35,227.03   +646.95 (+1.87%)

 NASDAQ   ---   15,225.15   +139.68 (+0.93%)

Russell 2000   ---   2,203.48   +44.17 (+2.05%)

The SP500 opened at 4548, up 10 points, and reached its lo, 4541, up 2 a few minutes later.  It hovered near 4613, the hi, from 1:30 to 2:30, then slid 21 points into the close

The DJI 30 opened at 34633, the lo, up 53.  It hovered near the hi, 35357, up 777, from 1:00 until after 2:30.  It then slid 130 points into the close.

The NASDAQ opened at 15111, up 32 points, and quickly dropped to its low, 1492, off 153.  It hovered near 15282, the hi, from 1:30 until after 2:30, then slid 57 points into the close.

The Russell 2000 opened at 2160, up 1 point.  It hit it's lo, off 5, a few minutes later; and it's hi, 2218, up 59, after 2:00, then slid 15 points into the close. 

It's been a rough road since Thanksgiving; but this is a nice start to the week.  The slips at the end are the only negative.  As I write this at about 8:30 pm, index futures are up slightly. 

Tuesday December 7, 2021 

SP500 at the close  ---   4,686.75   +95.08 (+2.07%)

DJI30    ---  35,719.43.  +492.40 (+1.40%)

 

NASDAQ   ---   15,686.92   +461.76 (+3.03%)

Russell 2000   ---   2,253.79   +50.31 (+2.28%)

All the indexes had similar contours today, leading to substantial gains.

The SP500 opened at 4632, up 40 points. It reached its hi, 4694, up 102 after 11:00.  It hovered just below that level until after 3:00, when it took a plunge under 4670 after 3:50, then sharply recovered into the close on a volume surge.

The DJI 30 opened at 35424, up 197 points, and reached its hi, 35819, at 11:00.  It hung under that level until after 3:00, when it fell, but not as sharply as the SP500.  It also rose into the close on a volume surge.

The NASDAQ opened at 15511, up 286 points.  It climbed to its hi.15720, up 286, before 2:00.  It also fell after 3:00, and then rose into the close for the day's largest gain.

The Russell 2000 opened at 2207, up 3 points.  After 11:00 it reached its hi, 2272, up 68.  It also has a dip and recovery late in the day.

This is a good start to yesterday's gains, but there is still a ways to go to reach the recent new highs.  The SP500 is the closest, and the Russell is the farthest away.

Wednesday, December 8, 2021

Green Arrow Up

SP500 at the close  ---  4,701.21   +14.46 (+0.31%)

DJI30    ---  35,754.75   +35.32 (+0.10%)

 

NASDAQ   ---   15,786.99   +100.07 (+0.64%)

Russell 2000   ---   2,271.71   +17.92 (+0.80%)

The SP500 opened at 2254.31, up 4 points, and dropped to its lo, off 12, at 11:00. It reached its hi, up 18 after  3:50 and slid into the close.

The DJI30 opened at 35716.35, off 3 points.  It hovered at or near the lo, off 117, from 11:00 to almost 2:30  It his the hi, up 86 points after 3:30, then slipped about 50 points into the close.

The NASDAQ opened at 15690.60 and quickly fell to the lo, off 68.  It reached the hi, up 106, after 3:50, and slid 6 points into the close.

The Russell 2000 opened at 2254.31, up a fraction, and quickly fell to its lo, off 6 points. It reached the hi, up 23, before noon. It stayed above 2209 the rest of the day.  It also drooped a bit at the end.

After two strong days, this session, though positive, struggled a bit, and was not exciting.  Is this week's recovery running out of steam?  My guess is no.  But we'll have to see how things develop.

Thursday, December 9, 2021 

Red Arrow Down

SP500 at the close  ---   4,667.45   -33.76 (-0.72%)

DJI30    ---  35,754.69   -0.06 (-0.00%)

 

NASDAQ   ---   15,517.37   -269.62 (-1.71%)

Russell 2000   ---   2,220.21   -51.50 (-2.27%)

The SP500 opened at 4691, off 10 points, and immediately rose to the hi, off 6 points.  It slid pretty steadily the rest of the day to close within 2 points of the lo.

The DJI opened at 35722, off 32 points. And immediately dropped to 35578, the lo.  From there it rose to the hi, 35864, up 109.  It then tumbled into the close to end flat.

The NASDAQ opened at 15721, and within a few minutes rose to 15976, the hi.  It then fell pretty steadily for the rest of the session, ending 6 points above the late day close.

The Russell 2000 opened at 2270, the day's hi.  It also slid the rest of the day, ending within a small fraction of the lo, for the day's largest loss.

Only the DJI spent a significant amount of time above water, but it could not hold that modest gain.  This was a pretty strongly negative day, overall.  I'm not giving up the notion that the current short term trend is up, though.  Nothing travels in a straight line. This could easily be counter current.  We'll see. 

Friday, December 10, 2021 

SP500 at the close  ---   4,712.02   +44.57 (+0.95%)

DJI30    ---  35,970.99   +216.30 (+0.60%)

 

NASDAQ   ---   15,630.60  +113.23 (+0.73%)

Russell 2000   ---   2,211.81.   -8.40 (-0.38%)

The SP500 opened at 4688, up 20 points, and slipped to 4670, the lo, up 3, after 11:00.  It climbed the rest of the session, in three steps, to end within 2 points of the late day hi for the day's largest gain.

The DJI30 opened at 35830, up 76.  It dropped to 35710, its lo, after 11:00.  It also climbed the rest of the session, ending 11 points under the late day hi. 

The NASDAQ opened at 15630, up 112 points.  It hit its lo, 15478, off 40, after 11:00.  It ran flatish near 15560 until 2:30, when it rose into the close to finish within a point of where it started. A round trip to nowhere.

The Russell 2000 opened at 2221, up less than 2 points. It also his its lo, 2200, off 20, after 11:00.  But it never regained positive territory, running close to 2210 until 3:30, when it rose slightly into the close for a modest loss.

For the three gainers, this is either the up trend reasserting  itself, or a more complex counter-current wave still unfolding.  The latter seems to be the case with the Russell.

The gains this week were spectacular.  But none of the indexes are at new highs, and the RUT is lagging badly.

Weekly changes -

SP500 + 3.82%

DJI30  + 4.02%

NASDAQ + 3.61%

Russell + 2.43%