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The Second Negative Trading Day Of December

By jnyaradi
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Courtesy of John Nyaradi.

I predict another negative trading day today for December

Stocks, ETF, Daily Market Wrap, SPX, SPX Chart, NYSEARCA:DIA, NYSEARCA:SPY, NASDAQ:QQQ, NYSEARCA:IWM, NYSEARCA:USOThe Fortune Teller Speaks:

Stock markets will likely be trading in the red again today, based on continued fear regarding the stock market bubble bursting and more jitters about looming economic data.

Wall Street Beats & Jives:

Stock markets continued trading in the red yesterday, despite good Market PMI, ISM, and Construction Spending reports released.  Today is a light day for economic data, with only a New Vehicle Sales report on the docket.

All eyes on Wall Street appear to be focused on tomorrow however, as investors will likely be trading on the results of the ADP Employment Report, ISM Non Manufacturing Report, and the all mighty Fed Beige Book, among other economic data.  Furthermore, more and more big name investors like Robert Shiller, for example, continue to warn us all about our current stock market bubble, so all in all, investors seem to be moving into a more spooked out mentality.

Hindsight is a Beach and We’re Playing on It:

Yesterday I was 100% correct in my predictions, with the S&P 500 (NYSEARCA:SPY) losing .27%, the NASDAQ 100 (NASDAQ:QQQ) losing .36%, and the Dow Jones Industrial Average (NYSEARCA:DIA) losing .48%.  Still, the bulls are giving it everything they have to get those records, which has created an interesting sideways trend in recent trading.

Greed or Fear?

I would say that stock markets are trading in fear, as nobody seems too excited about the upcoming economic data and the inevitable pop of the current stock market bubble.

Fun Fact:

A guy dropped $1000 worth of $1 bills into the Mall of America yesterday, and got arrested for it.  Only in America would this happen.

My Secret Sauce Is Red:

I predict another red day for today.

This stock market forecast is for educational and informational purposes only.  It is not intended to be investment advice nor an investment recommendation.  Past performance is no guarantee of or indication of future performance and your performance may vary widely from any that may be indicated in this column. There is risk of loss in all investing and trading activities and you should consult your financial adviser before making any investment decisions.

Click here to learn more about John’s book and for a free membership to Wall Street Sector Selector

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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