Market Briefing For Monday, Dec. 8

Really acceptable - consolidation in the wake of the prior two days upside. It is especially notable as Bitcoin was down again; and despite properly calling crypto negative in general, we needed (and got) this weeks' prior rebound.

So we can 'hope' that the cross-asset selling aspect is out of the way for now; but that's hard to tell. I do know a number of banks (and politicians besides a known group of market analysts) are trying their best to instill confidence in all sorts of crypto; none of which is merited in my view; but that's not the point.

Of course the point is that it needs to stay in enough of range not to impede the otherwise-normal (and partially seasonal) aspects of market behavior.

There's no 'new' meaningful developments regarding 'new-era' stocks today; although I shared a couple discussions about Ondas Holdings. It, in particular, acted very well and is borderline breakout out to challenge records.

Bottom-line: this is really a stock market now at high S&P levels, 'waiting for Godot' so to speak, meaning the FOMC Meeting coming right up. Let's just be pleased the market (and our tickers of course) held as well as they did and perhaps we see more next week.


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This is an excerpt from Gene's Daily Briefing (distributed nightly), which typically includes videos as well as more charts and analysis. You can subscribe  more

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