Daily Market Wrap

The market saw moderate declines for the first time on Christmas Eve since 2007. The sp' closed @ 1426.66  The VIX managed minor gains of 4% @ 18.57, and even Mr $ recovered earlier declines to close fractionally higher @ USD 79.65


Sp'daily5

VIX'daily

Summary

So, a quiet day in market land, but for those seeking major downside later this week, it was a very acceptable way to take us across the Christmas holiday.

The sp' is just 13pts from the key 1413 low, with a secondary key low @ 1398.

If the market can put in a daily close <1398, it should be a VERY decisive moment, and open the door to a 2-3 week decline into the low sp'1200s.

One minor post..to appear late tonight.