Market Sentiment at the Open:

Another low volume day. With Tesla delivery numbers due over weekend, swing in stock expected

Markets open full time today. Monday closed

Bulls may like this

Asia-Pacific markets rise in final trading session of 2022
China appointed its ambassador to the US, Qin Gang, as the new foreign minister, as the nation shows signs of moving back to a lower-key diplomatic strategy

Bear thesis

Chinese military jet buzzed US Air Force plane just 20 ft away in South China Sea
As Covid-19 infections surge in China, the U.S. Centers for Disease Control and Prevention is considering sampling wastewater taken from international aircraft to track any emerging new variants
U.S. and global health officials are worried about lack of transparency from China on Covid outbreak

Stock Specific

Southwest Airlines says holiday meltdown will ‘certainly’ hit fourth-quarter results
Baron's indicates that Musk dodged margin call today. Delivery numbers expected over weekend- 425,000 expected for the quarter
Cathie Wood still buying & averaging down TSLA holding
Cathie also added $5.5 Million in COIN.
AMC: Avatar is now one of six movies in history to hit that milestone in its first two weeks on screen
A congressional report over BIIB‘s Alzheimer’s drug, Adulhelm, said that Biogen set an “unjustifiably high” price
Other news
Biden signs $1.7 Trillion funding bill
RIP Pele

Significant Events Calendar:

Time >>>>> Event >>>>>>> Interpreting the report (Oversimplified)

09:45 ET >>> Chicago PMI >>> Not much impact

Comments

AutoModerator t1_j28wgrb wrote on December 30, 2022 at 2:28 PM

#1,181,236

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VisualMod t1_j28whof wrote on December 30, 2022 at 2:28 PM

#1,181,243

>From a technical standpoint, the market looks like it is setting up for a move to the downside. The bulls have been unable to push prices higher over the past few days, and now we are seeing some bearish momentum building. I would be cautious about taking any long positions at this time.