Market Update Into December 22nd: CPI Saves Market

Markets leaned bearish for most of the week until a significantly cooler-than-expected CPI report flipped the script, causing a rally that erased earlier losses. Despite the late-week rebound, the major indexes ultimately finished flat. Beneath the surface, silver (SLV), gold (GLD), and healthcare (XLV) ended the week green, while Micron (MU) delivered a strong earnings report that pushed the stock to fresh all-time highs, giving the semiconductor sector some confidence.

• China Crushes Nike
• Micron Goes Vertical
• Robotaxi Hype Ignites
• iRobot Goes Bankrupt
• Trials Expire Sunday

Looking ahead, the upcoming week will be shortened by the Christmas holiday, though several important data points remain on the calendar, including GDP and consumer confidence. With the year winding down and the final monthly options expiration now behind us, attention turns to price action. Let’s see how the charts look.

Weekly Analysis

SPY (SPDR S&P 500)

SPY ended the week slightly lower, closing at $680.59 (-0.17%), but printed its first lime Trend Strength Candle (indicator by Dr. Goose) since July, a potential signal that bullish momentum is starting to build. After a sharp selloff on Wednesday, SPY bounced cleanly off the Ripster 50/55 Daily MTF Cloud and closed Friday with that lime Trend Strength Candle, giving bulls some added confidence heading into this week.

QQQ (Invesco QQQ Trust)

Tech rebounded nicely, with QQQ closing slightly higher at $617.05 (+0.56%). The ETF reclaimed all of the Ripster MTF Clouds, turning a key area of prior resistance into potential support. It also printed a green Trend Strength Candle on Friday, offering trend followers a potential entry as the Santa Rally timeframe approaches.

IWM (iShares Russell 2000)

Small caps took a hit last week, with IWM closing lower at $250.79 (-1.21%). Despite the pullback, internal strength remains strong relative to its large-cap peers, as the Trend Strength Candles transitioned from lime to cyan, the indicator’s strongest color. This shift suggests IWM may be setting up for another push toward record highs if momentum continues to build.

Earnings

Notable Results

ACN (Accenture)

• EPS: $3.94 vs $3.73 est
• SALES: $18.70B vs $18.543B est

BB (BlackBerry Limited)

• EPS: $0.05 vs $0.03 est
• SALES: $141.80M vs $138.124M est

BIRK (Birkenstock Holding)

• EPS: $0.60 vs $0.40 est
• SALES: $615.404M vs $606.670M est

CCL (Carnival Corporation)

• EPS: $0.34 vs $0.25 est
• SALES: $6.33B vs $6.368B est

CTAS (Cintas)

• EPS: $1.21 vs $1.19 est
• SALES: $2.80B vs $2.764B est

DRI (Darden Restaurants)

• EPS: $2.08 vs $2.09 est
• SALES: $3.102B vs $3.077B est

FCEL (FuelCell Energy)

• EPS: $(0.83) vs $(1.01) est
• SALES: $55.016M vs $47.487M est

FDX (FedEx)

• EPS: $4.82 vs $4.09 est
• SALES: $23.50B vs $22.831B est

GIS (General Mills)

• EPS: $1.10 vs $1.02 est
• SALES: $4.86B vs $4.781B est

HEI (Heico)

• EPS: $1.33 vs $1.21 est
• SALES: $1.209B vs $1.161B est

JBL (Jabil)

• EPS: $2.85 vs $2.55 est
• SALES: $8.305B vs $8.062B est

LEN (Lennar Corp)

• EPS: $2.03 vs $2.20 est
• SALES: $9.368B vs $9.129B est

MU (Micron)

• EPS: $4.78 vs $3.82 est
• SALES: $13.643B vs $12.811B est

NKE (Nike)

• EPS: $0.53 vs $0.37 est
• SALES: $12.427B vs $12.181B est

PAYX (Paychex)

• EPS: $1.26 vs $1.23 est
• SALES: $1.558B vs $1.552B est

What’s Happening Now

MU (Micron)
Micron is up 204% YTD, yet history implies the tank is far from empty. January marks the stock’s strongest seasonal window, delivering a +9.2% average gain over the past four decades. While headlines fixate on a massive earnings beat and sold-out AI memory through 2026, the CES Effect historically ignites Q1 sentiment.

TLRY (Tilray Brands)
Micron is up 204% YTD, yet history implies the tank is far from empty. January marks the stock’s strongest seasonal window, delivering a +9.2% average gain over the past four decades. While headlines fixate on a massive earnings beat and sold-out AI memory through 2026, the CES Effect historically ignites Q1 sentiment.

Believe it or not, this is just a fraction of what happened in the markets last week. For a full rundown delivered straight to your inbox every weekend, sign up for The Official Trendspider Newsletter!