Daily Market Update for 12/30

It’s been a third day of rotation in the market as the money that supported a move from smaller-caps to larger-caps on Monday transitioned back to smaller-caps today (small and mid-caps). The result was a larger breadth of stocks advancing, but a bearish looking inside day for the Nasdaq.

Daily Market Update for 12/23

All things considered, it could have been a lot worse. Trump’s threats to veto the stimulus bill seemed to have little impact at open. Initial Jobless Claims came in lower than expected. Despite a dip in personal spending and new home sales, the Nasdaq rose through the morning to make a new all-time high in the afternoon. It then turned and sold off sharply in the final minutes before close.