Thursday, December 24, 2015

"At The End, They All Crowded Into the Same Four Stocks"

Any fund manager that didn't own Facebook, Amazon, Netflix and Google ["FANG"], underperformed the market, and hence was down on the year...

MW: Dec. 24, 2015
The Chart of the Year. Literally

“If you own the S&P 500, you were bailed out by a handful of giant companies that masked the pain beneath the surface,”

The S&P 500 is flat year over year. The % of NYSE stocks above their 200 day moving average has fallen from 55% to 32% over the course of the year:

FANG versus S&P:

Dollar Yen levitation. In full reversal. 

The "Best Santa rally in four years", gets the market back to flat year over year...

NYSE Oscillator is at a 2.5 month high:

Nasdaq Count

FANG levitation. Check
Short-covering. Check
Volatility compression. Check
Collapsed volume. Check

Santa Skynet is running out of tricks