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COVID Concerns Return December 18, 2021

Posted by Tom in Thoughts.
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Dec. 17, 2021 – With the immediate focus off of the FED and a return to concerns about Covid, plus continuing debates about inflation, the market returned to showing weakness this week.  We’re back to the swing lows of 14931 on the NASDAQ Composite Index.  A break above 16626 would be bullish but that might not happen until we get past Christmas.  We sure could use some good news too.

click on chart to enlarge

Most of my indicators on the chart are negative and even “Price Strength” is barely positive.  Not a great environment for stock prospecting.  This is a shortened trading week and volume will drop off the closer we get to Christmas.  But be careful; low volume can be volatile.

After the New Year I’ll be making a few changes to this blog to improve content.  I’ve been working on some overall market strength signals plus I’m considering adding detail to sectors by showing specific ETF’s.  More to come.

The Short Term Sector Strength table is shown below –

That’s about it.  Wishing all that celebrate it a Merry Christmas.     ……….  Tom  ………..

Price chart by MetaStock; pie chart & table by http://www.HighGrowthStock.com. Used with permission.

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