Abstract
As we input one of the crucial most-positive occasions of the yr for the inventory marketplace, from December 19, 2024, till January 2, 2025, we observe that the marketplace has now not been sort to reasonable inventory in addition to many sectors because the latter a part of November. Some blame it on tax-loss promoting, which is possible. However there are sectors and indices falling from all-time highs, or no less than 2024 highs, so there can?t be any tax promoting there. NYSE breadth on Tuesday was once -1,611 because the streak of vulnerable breadth continues. The 12-day NYSE advances/overall problems is right down to 39%, one of the crucial weakest readings during the last two years. And, as soon as once more, the weakest indices had been the NYSE, S&P 400, and S&P 600. We see some fascinating Dedication of Buyers (COT) knowledge in addition to some tense da-ta (it simply will depend on which marketplace). We discussed prior to now that the main index blended hedger place was once relatively bearish — and once we take a look at two of its index parts, we discover that the S&P 500 and the Nasdaq 100 hedgers positions are each bearish because the good cash hedgers are at or close to their most-negative futures positions. On the identical time, huge speculators (hedge budget, momentum junkies) are extraordinarily bullish of their futures positions
