S&P 550: Will Santa give us the 200 DMA?

by Mish on December 21, 2011

The Market's a Wonderland!

TBT ChartToday, the wonder was in the Ultrashort Lehman 20+ Year Treasuries (TBT). Rates made new lows this week; turned around yesterday and then today, opened firm in the face of index weakness. Rates stayed firm the remainder of the day, with TBT closing up 2.66%.

SPY Slope on the 50 DMA is positive again in the now confirmed recovery phase. Oh that elusive 200 DMA. Will Santa bring it?

QQQ: Here's a wonder-the diversion in this index as it closed down 1.6%.

IWM: In spite of negating the island bottom, impressive performance.


GLD 157.45 the 200 DMA now resistance as it worked off the oversold condition.

XLF (Financials) If clears 12.86 is way encouraging. PNC cleared the highest price it has been since July 21.

IYT (Transportation) Super encouraging if clears the 200 DMA since will be first time since end of July.

IYR (Real Estate) Like IYT, if clears the 200 DMA will be first time since beginning of August.

SMH (Semiconductors) Back over 30.60 would be wonderful. Under 29.20 not so much.

OIH (Oil Service) Good performance but hurdles remain. The 50 DMA is a big one.

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