(Daily Notion): SPX500, NAS100, US30 Cheer the Bull, Ended High, Next Mover: U.S. Moderna Vaccine Approval, Stimulus Package, Brexit Outcome

NASDAQ 100 

Source: Yahoo Finance

SPX 500

Source: Yahoo Finance

US30 

Source: Yahoo Finance

On Wall Street, the SPX500 ended 0.57% higher at 3,722.43 while the NAS100 ended 0.84% higher at 12,764. The US30 followed in this trail by ending 0.49% higher (ending at 30,301.79).

The SPX500 was seen at key resistance, opening room for a small pullback before the rally continues. This is supported by an ascending wedge and divergent Relative Strength Index (RSI). Analyst predict that following a break past $3,720 to $3,725 level, there will be tough resistance at the $3,765 - $3,785 level.

Although the NAS100 is currently riding the high boosted by increasing risk appetite, analyst has expressed concern that this bullish wave will only be a mild one.

Meanwhile, on the US30, it gained momentum upwards with upon news from Senate Leader Mitch McConnell that a stimulus deal was ‘at hand.’ Among its leading stocks for the day are Visa, Home Depot, and Johnson and Johnson.

The second coronavirus vaccine in the U.S from Moderna is on the brink of emergency approval. Successful approval would increase the positive sentiment in the market, especially in the midst of rising Coronavirus cases and rising initial jobless claims which rose up to 885,000 last week. Traders are also eagerly waiting for the outcome on the U.S. Stimulus Package as well as Brexit Negotiations.

FOLLOWME Overall Sentiment (as of Dec 18, 2020 at 2.55 p.m.)

NAS100 

The above is a snapshot of the overall sentiment of FOLLOWME traders. A total of 77.49% is leaning towards short-selling, while 22.51% leans towards a long position. 

SPX500 

As shown above, the overall sentiment of FOLLOWME trader leans towards short-selling with a 79.49% ratio, while the remaining 20.51% is in long position.

US30 

As per the above, the overall sentiments of FOLLOWME traders is leaning towards a short-selling position at a ratio of 72.43%, while the remaining 27.57% is in long position.