The indexes sputtered into year-end with the NASDAQ Composite Index selling off for two days in a row off the all-time highs before finding support at the 10-dma on Tuesday. Volume was higher on the final trading day of the year, giving the day the look of supporting action at the line. So far, just a bout of year-end profit-taking.
Precious metals held their December gains into year-end, closing tightly along their prior October-November highs. The iShares Silver Trust (SLV), shown below, and the SPDR Gold Shares (GLD) have rallied nicely throughout December, with their 10-dmas now serving as reference points for potentially buyable pullbacks from here.
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