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?
This week, the $SPY ETF closed at $470.74 (+3.81%) after a strong bounce off the support trend zone from last week.
This week the $QQQ ETF closed at $398.01 (+3.89%) after a bounce off the top of the support zone highlighted last week.
This week the $IWM ETF closed at $219.91 (+2.42%) after stopping a 5th red week in a row from closing.
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