High: 2057.75 Mid afternoon
Low: 2041.75 Early, or after the open
Last: 2055.25, UP 20.75 handles
Volume: Lower than I expected, under 1 mil ESH and 2k SPH traded in the pit.
MOC: MiM showed $200mil to sell, ACTUAL MOC was FLAT to small to sell – Everyone left for Christmas.
Tomorrow: Jobless Claims, EIA Natural Gas Report, 3-Month and 6 month Bill Announcement, 2-Yr and 5- and 7Yr Note Announcement, Fed Balance Sheet Money Supply…CME Closes Early!
Santa Giving the Bears Some Heartburn.
Santa came late to the party but at least he showed. Since the ESH16 made its day session low at 1995.25 on Monday the ES has rallied 64.5 handles
I talked about the 3 higher lows and how I though as volume dropped the ES would rally and that is exactly what’s happing.
I also said they would mark up energy stocks and had they not this rally may not have been so strong.
End of year contest
As far as the Santa Claus rally— we define it as the last five days of the year and the first two of the new year— there could be another small sell off, but that will just help reload Santa’s sleigh.
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