Market Report for Dec 23 2022
Thursday brought out the bears as all the major averages saw red, especially the Nasdaq. All sectors closed in the red too.
Thin volume could also be a factor here but while the levels were less than their averages, they were slightly greater than the prior days. However, the big dog volume might be missing.
VIX increased 9.47% taking it to just below 22.
Can we read too much into yesterday’s session? We should always be prepared and the absence of big players might be the reason for the market behaviour, but the market is always right.
So, while we have shorts that have been filled, we will look to close those positions today, regardless of how the session progresses.
Even though TSLA is likely to go towards the 100RN zone, we do not want to hold shorts over the Xmas weekend.
On that note, have a good festive holiday everyone.
Let’s go trade!