12/10/2021 | by Jake Wujastyk

Market Update Into 12/13: A Strong Market, for Some

BlogPrepare for the Trading WeekMarket Update Into 12/13: A Strong Market, for Some

After a crazy week last week, the major indices closed green for the week with some individual names really holding up the market towards the latter part of the week. Many are wondering, is this the start of a Santa Claus rally or will individual names continue to have trouble as tax loss selling into the end of the year?

Weekly Analysis

This week, the $SPY ETF closed at $470.74 (+3.81%) after a strong bounce off the support trend zone from last week.

$SPY daily and weekly charts.

This week the $QQQ ETF closed at $398.01 (+3.89%) after a bounce off the top of the support zone highlighted last week.

$QQQ daily and weekly charts.

This week the $IWM ETF closed at $219.91 (+2.42%) after stopping a 5th red week in a row from closing.

$IWM daily and weekly charts.

Top Twitter Posts This Week

$UHN chart by @ChartBreakouts on Twitter.

$AAPL chart by @ThetaWarrior on Twitter.

$BABA chart by @reciknows on Twitter.