主题：12/22/2009 Market View -- 宁子

MARKET SENTIMENT

VIX: 44.56; -0.37

VXN: 41.91; -1.59

VXO: 45.96; +0.02

Put/Call Ratio (CBOE): 0.75; -0.07

NASDAQ

Stats: -31.97 points (-2.04%) to close at 1532.35

Volume: 1.654B (-39.58%). Extremely low trade.

Up Volume: 360.134M (-1.163B)

Down Volume: 1.269B (+210.391M)

A/D and Hi/Lo: Decliners led 2 to 1

Previous Session: Decliners led 1.04 to 1

New Highs: 5 (-2)

New Lows: 115 (+7)

NASDAQ CHART: http://investmenthouse.com/ihmedia/NASDAQ.jpeg

A struggle all session, tapping down to the late October low, then rebounding in the last half hour to close right at the 18 day EMA. Very low trade so not a lot of selling, but no holiday cheer to the upside. The rebound kept it in the game for a run at the 50 day EMA (1627).

SOX (-2.45%) sold then bounced as well, coming right off the late October intraday low. Pretty orderly pullback for the semiconductors and they too are in position to continue higher. Need the chips to lead.

NASDAQ 100 CHART: http://investmenthouse.com/ihmedia/NASDAQ100.jpeg

SOX CHART: http://investmenthouse.com/ihmedia/SOX.jpeg

SP500/NYSE

Stats: -16.25 points (-1.83%) to close at 871.63

NYSE Volume: 1.22B (-49.61%). Weak volume at the low end of the range for the past three weeks. Again, not many sellers but they were in control as buyers were out buying holiday gifts and not stocks.

Up Volume: 266.442M (-1.122B)

Down Volume: 943.084M (-62.362M)

A/D and Hi/Lo: Decliners led 2.24 to 1

Previous Session: Advancers led 1.78 to 1

New Highs: 27 (0)

New Lows: 94 (+5)

SP500 CHART: http://investmenthouse.com/ihmedia/SP500.jpeg

SP500 reached lower toward the bottom of the range and rebounded, but it closed below the 10 and 18 day EMA (884, 882). In the range but has to come off the bottom and take on the early December high again (918.57) and the every descending 50 day EMA (926). Financials need to help out; weren't doing it Monday.

The small cap SP600 (-2.05%) was a downside leader all session, but the small caps recovered smartly to close just over the 10 day EMA and actually look quite good. Said it before, but it is important for the small caps to put in a higher low here and break through the 50 day EMA, 12 points higher.

SP600 Chart: http://investmenthouse.com/ihmedia/SP600.JPEG

SP400 CHART: http://investmenthouse.com/ihmedia/SP400.jpeg

DJ30

The blue chips tested lower toward the bottom of the three week range and then rallied back once more just as they did two weeks back the last time they tested this low. Holding at 8500 support, the closing price bottom of the range. Bouncing between 8500 and 9000 on the closes. Not bad, but looking for a break over that 50 day EMA (8936) to get thing interesting for the upside. Yep, looking for that break. The Dow will once again have to show it is the first mover of the group as it is at a critical stage right now. It made a higher high in early December and then failed to take it out last week. Needs a quick turnaround from here. Getting interesting.

Stats: -59.34 points (-0.69%) to close at 8519.77

VOLUME: 211M shares Monday versus 550M shares Friday. Lightest trade of the past month outside of the last day in November.

DJ30 CHART: http://www.investmenthouse.com/ihmedia/DJ30.jpeg