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%