PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

Dec 23rd, 2009: EOD Charts

Posted by pugsma on December 23, 2009

SP-500 eeked out a new 2009 high today at 1121.58 and a new closing high of 1120.59 (up 2.57 or 0.23%).  This final wave v of (3) continues to wedge higher.  As stated in the afternoon update, this wave could push up to 1123 to 1125 tomorrow.   I’m not expecting any significant pull-back unitl after the long Christmas weekend.

Of significant note the Russel-2000 and NASDAQ made significant new 2009 highs today.  The Russel closed at 630.98 up 7.38 (+1.18%).  And the NASDAQ closed at 2269.62 up 0.75%.  Both the Russel and Nasdaq have had a large 4-day positive run in breaking out of their consolidations patterns.  The SP-500 is struggling to make new highs and DOW-30 has not made a new high this week.  There seems to be a lot of specualing on the risk trades into year-end.  I think there will be a significant correction for those markets once the volume picks back up into the new year.

15-min Chart:

60-min Chart:

Sorry, the comment form is closed at this time.

 
%d bloggers like this: