Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
The gap up Tuesday, caused by some combination of a German ZEW business confidence report, more QE coming, and China, has now been filled on the major indexes. You can see this in the SPY ETF. As mentioned this morning, nothing much is happening in December other than a whole lot of churning. Thus far the market has simply completed an oversold bounce from the mid November lows, and now needs to show more to prove it has more in it than that. With that said we soon enter holiday trading, and as with the Thanksgiving week that is usually something with a positive tone as most of the big money heads to vacation early.
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