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Market Lab Report - Premarket Pulse 12/22/16

Major average fell yesterday on lower pre-holiday volume. This time of year often has a bullish bias even with lower trading volumes. The Dow continues to miss the 20,000 mark as it came to within a little over 13 points of the "magical" price level. Otherwise, the action has been choppy with stocks mostly flipping back and forth ahead of the long holiday weekend. Things may remain quiet as we progress through the holidays, but we would certainly not assume anything.

In economic news, Q3 GDP was revised up to 3.5% from 3.3% in the third estimate while weekly initial claims increased to 275,000 from last week's 254,000.

Over the weekend we discussed the possibility that NVDA might develop into a Livermore Century Mark Rule buy once its crossed the 100 price level. So far that has worked well, but we would advise members long the stock to keep a clear stop in mind.

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