Market Alert - To the Close

No DJ30 20K today though it edged higher. We did not buy anything today as the action was sluggish again for many stocks and those that looked good, e.g. BCEI, gapped away from the entry point. So, we banked some gain on some good movers, e.g. LIVE, LLNW, AMD. Also letting most positions run as AKS bounced and many other stocks did the same in financials, etc. We did close FB as it was sluggish on an upside session and already was not enamored with its more recent action.

Stocks are trying to rally a bit toward the bell. Who knows, perhaps the Dow touches 20k. While there are strong areas such as chips, financials, etc., this action looks sluggish, and IF DJ30 touches 20K you have to watch for a pullback, maybe not during the final weeks of December, but soon after.

SP500 6.84, 0.30%
NASDAQ 23.46, 0.43%
DJ30 80.36, 0.41%
SP400 0.49%
RUTX 0.62%
SOX 0.87%

Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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