The expected Santa Claus Rally that was supposed to start after yesterdays FED meeting has run into the Grinch!Spoos – down 24 handles,Dow -170. leading sectors weighing on SPX are no surprises. Emery -1.8%,materials -1.45% Financials and Consumer discretionary both.-1.25%. 490 SPX stocks lower, 90 out of 100 NDX stocks lower.No where to hide in stocks.Year end wash out before we see Santa Claus? or are higher rates causing havoc already?
yesterdays pit Low in spooz 2034.90,if it holds I believe just a wash out before Spooz move higher.If trades below and doesn’t find support at 2030.90(a gap) markets could be in trouble
Crude Oil approaching contract lows and Multi year lows below 34.53(Jan)