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 |
7/14/2025 1:32 PM | Decisive Week |
7/14/2025 9:32 AM | GET READY! |
7/11/2025 1:45 PM | Facing Pressure |
7/11/2025 9:48 AM | CLEAR FOR TAKEOFF |
7/10/2025 1:53 PM | Small Caps Rally |
7/10/2025 9:56 AM | ENOUGH ZEN TO SHARE |
7/9/2025 1:32 PM | NVDA New Milestone |
7/9/2025 9:46 AM | PASSING THE BATON |
7/8/2025 1:33 PM | Seesaw Session |
7/8/2025 9:55 AM | MORE SUMMER BLAHS THAN FEAR OF MYANMAR'S TARIFF |
7/7/2025 1:27 PM | Trade Talks and Profit Taking |
7/7/2025 9:51 AM | LOVING MOOD |
7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
6/25/2025 1:42 PM | Tech Stocks Power Nasdaq 100 |
6/25/2025 9:47 AM | CLIMBING MOUNTAINS OF WORRY |
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