Afternoon Note
The market is very much off balance in this typically good month, and instead of Santa, it is the Grinch who has infiltrated. Moreover, as the holidays approach, trading is getting quieter, but there is still a chance of volatility.
The bad news came from housing today. The December Homebuilder Sentiment fell further into negative territory to 31 vs. 34 consensus and getting closer to COVID’s low. NAHB Chief Economist Robert Dietz noted we may be nearing a bottom of the cycle.
“The silver lining in this HMI report is that it is the smallest drop in the index in the past six months, indicating that we are possibly nearing the bottom of the cycle for builder sentiment,” he added “mortgage rates are down from above 7% in recent weeks to about 6.3% today, and for the first time since April, builders registered an increase in future sales expectations.”
All eleven sectors are in the red with Communication Services leading the losses. Meta Platforms (META) is weighing down the sector on a report that the European Commission believes the firm breached its antitrust rules.
Volume is low and decidedly bearish this afternoon.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,061 |
1,723 |
Decliners |
2,003 |
2,851 |
New Highs |
31 |
66 |
New Lows |
123 |
458 |
Up Volume |
850.6 million |
738.2 million |
Down Volume |
1.71 billion |
97.6 million |
Everyone is still waiting for Santa to come around, which leaves the market stuck between angst and hope.
Tweet |
5/12/2025 1:22 PM | Strong Gains |
5/12/2025 9:47 AM | MAJOR PROGRESS WITH CHINA |
5/9/2025 1:15 PM | Friday Fluctuations |
5/9/2025 9:25 AM | SO MUCH EXCITEMENT |
5/8/2025 1:49 PM | First Trade Deal |
5/8/2025 9:37 AM | POWELL SEES NOTHING |
5/7/2025 12:53 PM | Powell Under Pressure |
5/7/2025 9:48 AM | THE LUXURY OF BEING GREEDY |
5/6/2025 1:20 PM | Anxiety Continues |
5/6/2025 9:45 AM | ANXIETY RETURNS |
5/5/2025 1:18 PM | Market Consolidating |
5/5/2025 9:41 AM | MID-CAP MUSCLE |
5/2/2025 1:19 PM | Labor Market Resilience |
5/2/2025 9:57 AM | BACK TO THE STARTING LINE |
5/1/2025 1:31 PM | Big Tech Resilience |
5/1/2025 9:52 AM | MAMA SAID |
4/30/2025 1:35 PM | Midday Recovery |
4/30/2025 9:52 AM | BIG HITTERS ON DECK |
4/29/2025 1:49 PM | Fluctuating |
4/29/2025 9:48 AM | BUY SIGNALS & RECESSION TALK |
4/28/2025 1:22 PM | Earnings Angst |
4/28/2025 10:03 AM | BIG TEST |
4/25/2025 1:16 PM | Quiet Friday |
4/25/2025 9:57 AM | HYSTERIA TO HOPE |
4/24/2025 1:12 PM | Solid Session |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|