Stock Indices Recap - 12/12/2016

December 12, 2016 9:35AM CST

March S&P finished up 100.3 at 2355, -96.2 off the high and 107.7 up from the low. March S&P E-Mini closed down 4.75 at 2250. This was 3.25 up from the low and 14.75 off the high.

The stock market ranged up sharply and initially failed after that pulse up move, and that might hint at an overdone condition. It is also possible that some longs are simply looking to bank profits ahead of the Fed window, and that might gain added impetus in the event that a couple of negative closes are chained together. A portion of the early rally in stocks was the result of positive leadership from Oil Patch shares, but a stalled buyout headline mid-morning seemed to usher in the reversal in prices.

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