Stair Steps

By Tim Knight

Welcome to the other side of Christmas mayhem, everyone. Now that it’s over, I trust you are just as excited to start celebrating Kwanzaa as I am.

There’s not a heck of a lot to say on this quiet, semi-holiday morning. In the world of equities, the ES is barely changed, but the NQ is making a bit more of a resolute stair-step downward over the past week. As I’m typing this, it’s down a bone-chilling half a percentage point.

nq

Crude on the other hand, seems to be finishing an already very strong year with a flourish higher. Over the past couple of weeks, it has been stomping ever-higher. It sort of makes you wonder why Saudi Arabia is bothering imprisoning, beating, torturing, and extorting their billionaires. The “cheap crude oil” problem seems to be solving itself.

crude

In case anyone is wondering if there are any half-days around this time of year, the answer is no. Regular trading hours except for a full closure next Monday, New Year’s Day.

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