December 24, 2024

Markets:

Stock futures were flat Tuesday on Christmas Eve after all three major averages kicked off the holiday-shortened trading week in the green.

Trading is expected to be thin this week. On Tuesday, the New York Stock Exchange closes early at 1 p.m. ET for Christmas Eve, while the bond market closes at 2 p.m. The market is also closed on Wednesday for Christmas Day.

With few trading days in store, some investors are hoping for a Santa Claus rally to conclude what has already been a strong year for the market. And that’s not completely out of the ordinary. According to the Stock Trader’s Almanac, the S&P 500 has gained 1.3% on average between the last five trading days of the year and the first two in January, dating back to 1969.

Portfolio:

We enter the session locked and loaded for the final push to close the year.  We enter holding setups in TSLL, QBTS, LMND, and JOBY.  Very light volume is expected today but the push higher remains.  Patient and steady.  Technically, looking for QQQ to 527. SPY want to see a push towards 600.  NVDA turning around here to close 2024 is massive for the semi space.  Now, let's see if small cap land joins back in.  January truly is shaping up to be an incredible period.

We also want to take this time to wish everyone a great Holiday season.  Merry Christmas to all who celebrate!