Tuesday, December 22, 2009

State of the Market - 12/22/09

Another short post today because there really isn't much to say. The market was up again today but just slightly and the S&P continues to struggle breaking through resistance. Volume was very low and it does look like traders have started to shut it down for the holidays.

We only have one and a half sessions left this week, and I really don't plan on trading them. I didn't do anything today - really didn't even watch the market - and based on my scans, I am finding very little that would even interest me in this low-volume environment. China stocks continue to chop around but go nowhere and I am even seeing some breakdowns in those names - check out CAAS today. The market could keep griding higher this week much like it did today but in terms of how you play it, I am having trouble finding good ways.

Good luck this week if you're trading - I may shut it down for a few days unless I see some really interesting stuff out there. Take care and enjoy the holidays as they approach.

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