Week of 12/26-12/30 Hopes of Santa Rally Dissolve

Investors turn their heads sideways after another week of market losses as the hopes of a Santa rally dissolves. The bear momentum has kept strong again this week and even with a strong open on Thursday for the SP500, selling pressure took over quickly after the open and finished the day in the red again. Tesla has been one of the main drivers of downward volatility which keeps giving tech and similar stocks sympathy momentum. The SPY seems to have found some resistance at 378dlls so keep an eye if it retests this level as it might be a good indicator on where we will go from here.

We hope everyone had an amazing Christmas holiday and we wish you the best for the remainder of the year from our team at Tradeknow!