December 22, 2022

Markets:

Stock futures were muted in early trading on Thursday, as traders digested a sharp rally from the previous session.

Even with Wednesday’s gains, stocks are on pace to finish the month with losses. The Dow is down 3.51%, while the S&P 500 and Nasdaq have tumbled 4.94% and 6.62%, respectively. All three major averages are slated to break a 3-year win streak and post their worst yearly performance since 2008.

On Thursday, investors awaited jobless claims data.

The dollar fell Tuesday as markets started to wind down ahead of the holiday period.

Major averages on pace for their worst year since 2008. It’s been a difficult year for stocks, with just six trading sessions left in 2022. As of Wednesday’s close, all the major averages are set to break a 3-year win streak and post their worst yearly performance since 2008. That year, the Dow Jones Industrial Average sank 33.84%, while the S&P 500 and Nasdaq Composite shed 38.49% and 40.54%, respectively.

Portfolio:

We enter the new trading session holding positions in PDSB, AEHR, AAL, and ZIM. Balanced and continuing to watch trend lines on the S&P – one of the best tells over the past few months. After holding 3900 yesterday, it'll be interesting to see how we react today. Should we hold and continue to build, 4000 – 4100 by end of year could be in play. A break below and 3800 could be in the works. Be ready today for further updates and a potential new trade alert. Volume is beginning to decrease, and we expect the session today and tomorrow to be super light. Just keep that in mind as moves can be exaggerated a bit. Let's have a great session.