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Originally Posted by coolhand

So, after Monday's first trading day of the year loss, the market follows up with a bounce on the 2nd day. While it was a decent bounce, it didn't retrace all of Monday's losses on the S&P. The DWCPF retraced almost all of its losses.




We can see from the charts that the uptrend has at least stalled (short to mid-term) for now, but the charts still remain bullish. Technical damage is still limited.

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The New Year start with new highs in some indices at the opening bell, but things quickly got away from the bulls and there was steady bout of selling into the early afternoon before things stabilized. The Dow, which was positive at the open, ended the day down 383-points, which was 450 points off the high of the day, but also 342 points off the low. The losses were similar in many indices and it looks like they all found support in some key areas on the charts.

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Originally Posted by coolhand

So, the first trading day of the year starts us out on a negative note. That's not a good sign at face value and could be a problem if there is follow through.




The S&P gave up most of it's past week gains, but it did close well of the lows of the day. But that candlestick isn't pretty. The DWCPF continued to give up gains, now closing negative for 5 out of the past 6 trading days. Momentum is falling

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The year ended with a late push higher into the close to new highs for large caps, while the small caps limped across the finish line with some moderate losses. The Dow ended the day with a gain of 197-points, the S&P added a similar 0.64%, while the small caps lost 0.34%. The I-fund fared even worse because of the dollar rallying sharply.

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Originally Posted by coolhand

Last week saw somewhat of a reversal of fortune between the S&P and the DWCPF. For the week, the S&P was up more than 1%, while the DWCPF was down more than 1%. What do we make of that? I can't read much into it given that last week was the last trading week of year and the quarter. Now we start a new year and a new quarter.

Friday's action was modestly negative for both indexes, but the yearly gains were impressive; especially for the DWCPF, which was up more than 31%.

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