Stock Indices Recap - 12/2/2016

December 2, 2016 9:35AM CST

December S&P finished down 20.1 at 2172, 25 off the high and -12.8 up from the low.

December S&P E-Mini closed unchanged at 2192. This was 7.75 up from the low and 5.25 off the high.

The stock market generally showed erosion on its charts, but seeing the market initially hold together in the face of scheduled data that ramped up expectations of a December rate hike is somewhat impressive. However we don't think the stock market does very well in the wake of slow downwardly sloping prices. In other words, we would be more inclined to pick a bottom in stocks after a massive exhaustive washout in prices off the rate hike pendulum.

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