Although the market indexes have been in a steady uptrend, staying above the T-line, they are still sensitive to political rhetoric. Comments about the next stimulus package not yet agreed-upon knock the markets down very quickly today. This warrants keeping safety stops in place. Oil inventories were up big, knocking oil prices down a little bit. The electric vehicle sector appears to be profit-taking so far today. The trading strategy remains the same, stay in sectors that are showing strength, staying above the T line.
December 9th Daily Market Comments
Although the market indexes have been in a steady uptrend, staying above the T-line, they are still sensitive to political rhetoric. Comments about the next stimulus package not yet agreed-upon knock the markets down very quickly today. This warrants keeping safety stops in place. Oil inventories were up big, knocking oil prices down a little bit. The electric vehicle sector appears to be profit-taking so far today. The trading strategy remains the same, stay in sectors that are showing strength, staying above the T line.