Daily Market

Looking ahead
Tomorrow will kick off with an update to GDP for Q3 before the market opens.
After the market opens, CB Consumer Confidence for December will be available. We’ll also get a look at Existing Home Sales for November and the weekly Crude Oil Inventories.

Trends, Support, and Resistance
The Nasdaq dipped after a gap-up at open, getting support at 15,000 before climbing the rest of the day to close near the intraday high.
If the one-day trend line continues into Wednesday, expect a +2.32% gain.
If the index returns to the high from the 11/22 high or the five-day trend line , that would mean a -1.76% decline.

Wrap-up
Fears over Omicron seem to be as volatile as the market. Theupside reversal today is a positive sign, but don’t get too comfortable too quick. We can still see a lot of up and downs, especially with the lower volume that will only get lower as we head into the final week of December.
Based on the chart, the expectation for tomorrow is Sideways or Higher.

Stay healthy and trade safe!