Friday, December 11, 2015

SPY near the Nov lows (and Sept highs)

A straight decline for a week for SPY and now near the Nov lows (and Sept highs). It will be interesting to see if we can rebound from here on Monday as we have seen it previously on two occasions. After making a high of 211 last Wed (12/2) the market has declined for more then a week. Although we are waiting for a rate hike in the US, which is supposedly bullish for stocks, this decline could be attributed to the decline in crude/commodities prices and the Environmental meeting being held in France. Technically we are at a point where we could see a bounce from here but nothing is for sure in the stock market.

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