Despite the risks for European downgrades across the board the market barely budged and traded down slightly on lower volume.
I’ve included a great Bloomberg clip of Tom DeMark being interviewed. For those who may not be familiar, he is a market guru who popularized many advanced (that’s an understatement) indicators for determining support, resistance, turning points, etc. in the market. DeMark predicts the S&P 500 will move to between 1330 and 1345 by December 21st *ish before reversing back to the downside. Considering how right he has been recently, the interview is worth a watch (hat tip STTG reader Abror!).
Stay frosty out there.
And a quick look at natural gas courtesy of today’s stockcharts.com blog shows prices may be gearing for a break under $3.25.
*Email readers – visit the site to view the clip