US market on 30 Dec. DJIA Up Due to AAPL & DIS. Goodbye 2022!
Is it right to say that it was a relief that US market charged higher ytd (29 Dec) - 2nd last trading day of 2022 ?
Technology stocks rebounded as investors attempted to salvage the last two trading days of a brutal year for markets.
Nasdaq - Tue (27 Dec) index vs Thu (29 Dec)
Honestly, ytd's rebound only served to recoup the "loss" encountered on Wed (28 Dec).
If you refer to $NASDAQ(.IXIC)$ past 5 days performances, you would've realized that Thu's closing was where Nasdaq was on Tue (27 Dec).
Not complaining. Better than a falling Nasdaq anytime ! Whahahah.
By the time market closed :
mkt perf 29 Dec / pre-mkt indicators 30 Dec
- DJIA : +1.05% (+345.09 to 33,220.80) - kudos to Apple & Disney's pull effect.
- S&P 500 : +1.75 (+66.06 to 3,849.28)
- Nasdaq : +2.59% (+264.80 to 10,478.09).
3 Indexes - Moving Average (NA) on 29 Dec 2022
- Although DJIA 5-day & 200-day MA are in "green"; its 20-day MA is still below ytd's closing clearly indicating that bountiful uncertainty lies ahead for DJIA.
- As for S&&P 500 and Nasdaq's MA - weak overall. No foreseeable break through in the near future.
Quick look at AAPL :
AAPL past 5 days' performances
$Apple(AAPL)$ { DJIA's component stock} bucked the Wed downwards trend on Thu morning, setting off small-scale buying signals.
AAPL shares were trading 3.4% higher earlier in the day, before settling at +2.83% by endday.
Disney was the other "Hero" stock yesterday.
$DIS past 5 days performances
$Walt Disney(DIS)$ {the other component stock of DJIA} rallied +4.5% ytd morning, leading all other Dow index performers and helped to pull DJIA up momentarily.
It helps that Avatar II - The Way of Water (the movie) has surpassed the $1 Billion dollar mark, in worldwide box office receipts.
With easily another 2 more weeks of run in the cinema, Avatar II looks set to surpass both MCU movies - Doctor Strange in the Multiverse of Madness & Black Panther: Wakanda Forever; to become Disney top-performing film of 2022.
Other Catalysts :
- Weekly unemployment figures coming in at 225,000 (+9000 more claims) than last week's 216,000 was the other catalyst. Actuals exceeded Econoday's estimates of 222,000. Wall Street took the data and ran with it.
- Tesla's timely internal memo "leak" where CEO instructed workers to ignore $Tesla Motors(TSLA)$ and focus on the last delivery bout for 2022; was supposedly part of the rally's components ??
Will Wall Street close the Market with a BIG Bang ?
- Looking at US Pre-market indicators (refer to above diagram) - Red !
- Bitcoin & Ethereum prices (refer to above diagram) - Red & Green !
- Asia markets (ASX - Green !, Nikkei - Green !, KOPSI - Red !, HSI -Green !)
- EU markets -(DAX - Red !, FTSE - Red !, CAC - Red !).
- Do you think Apple, Disney and Tesla will continue its upwards trend today ?
- Do you think all 3 Indexes will end 2022 higher than ytd's tradings ?
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Matching song ? The Final Countdown by Swedish Rock band - Europe. Dunno ? YouTube it. Smashing song to end 2022 !
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