Abstract
As we enter one of many most-positive instances of the yr for the inventory market, from December 19, 2024, till January 2, 2025, we notice that the market has not been variety to common 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 not less than 2024 highs, so there can?t be any tax promoting there. NYSE breadth on Tuesday was -1,611 because the streak of weak breadth continues. The 12-day NYSE advances/whole points is all the way down to 39%, one of many weakest readings over the previous two years. And, as soon as once more, the weakest indices have been the NYSE, S&P 400, and S&P 600. We see some attention-grabbing Dedication of Merchants (COT) knowledge in addition to some disturbing da-ta (it simply is determined by which market). We talked about beforehand that the foremost index mixed hedger place was fairly 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 sensible cash hedgers are at or close to their most-negative futures positions. On the identical time, massive speculators (hedge funds, momentum junkies) are extraordinarily bullish of their futures positions
