[BRIEFING.COM] The S&P 500 gained 0.7% on Monday, securing its fourth day of gains in the last five sessions. The Dow Jones Industrial Average gained 0.4%, the Nasdaq Composite gained 1.3%, and the Russell 2000 outperformed with a gain of 1.8%.
Looking ahead, investors will receive the NFIB Small Business Optimism Index for December, the JOLTS - Job Openings and Labor Turnover report for November, and Consumer Credit for November on Tuesday.
- Russell 2000 +4.2% YTD
- Nasdaq Composite +2.8% YTD
- S&P 500 +1.7% YTD
- Dow Jones Industrial Average +0.9% YTD
..NYSE Adv/Dec 2348/619. ..NASDAQ Adv/Dec 2303/746.
ST & IT still LONG but SPX hourly can reverse to SHORT @ 2532
Market could not hold the early gains
This is only the 2nd time the ratio-adjusted McClellan Oscillator went from < -95 to > +95 in 2 wks. The other was November 7, 1962.
There were 3 times it went from -80 to +80 (November ’62, Jun ’70 and Mar ’09). A year later, the S&P 500 was +25%, +28%, and +50%, respectively.