Tech May Hold Key To Continued Santa Rally

By Candy Matheson of Strawberry Blonde's Market Summary

Blogger & Retired Russell 2000 E-mini Futures Day Trader • Dec 9, 2016 at 9:32 PM EST

We'll see if the Nasdaq plays catch-up with the Dow to break out, and round out, a potential continued Santa rally into the end of this year.

From the close of November 8th to the close of December 9th (today), the Dow 30 Index has gained 1,424.11 points...a gain of 7.77% since the U.S. Presidential election.

Daily Dow 30 Index

Percentages Gained Since U.S. Presidential Election

In the meantime, while the Nasdaq Composite Index has finally broken out and closed at all-time highs, the Nasdaq 100 Index is still stuck in a 1 1/2 year trading range. We'll see if it plays catch-up to break out, and round out, a potential continued Santa rally into the end of this year...and, possibly, signal overall market strength for 2017, as I wrote about in my Market Forecast for 2017 post.

Weekly Nasdaq Composite Index

Weekly Nasdaq 100 Index

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