Omicron Fears Ignite More Selling to Begin a Fragmented Holiday Week

by | Dec 20, 2021 | Market Updates

The markets are down as we start the week with the holidays fast approaching — and more in Monday’s stock market recap.

The markets are closed on Friday for Christmas, so this is what you’ll often hear me refer to as a “fragmented week.” On weeks like this, a lot of people take off, or at least half of it to rest and prepare for the holidays.

And less traders in the market means more volatility due to less liquidity.

The markets are down to start the week on renewed omicron fears, even after a 500-point downward move on Friday, making some investors nervous.  

But I think we’re going to see a turnaround, and I’ll explain why in this video…

Elsewhere in the news, Moderna Inc. (Nasdaq: MRNA) announced that a third dose of its COVID-19 vaccine appears to provide significant protection against the omicron variant, which is certainly good news, concerning the turn of events I discuss in Roger’s Radar below… 

In this morning’s stock market recap video, you’ll learn why I believe the markets are going to recover soon… what market internals are showing us right now… why bonds are barely up … why volatility levels aren’t spiking… whether the sector rotation I predicted is actually happening… how to take advantage of the current market cycle… and how to position yourself for profits in 2022. 

Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to! 

Roger’s Radar: Omicron

Futures are again sinking on omicron fears as we prepare for a coming shift in the Federal Reserve’s easy-money policies. The omicron variant is spreading fast around the world in about 90 different countries, and has been found in 43 of 50 states in the U.S. 

Per CNBC: 

The move in futures is “reflecting growing uncertainty surrounding whether the Omicron surge will bring new widespread economic shutdowns, an unexpected shelving of additional fiscal stimulus from President Biden’s Build Back Better plan, and a breach by the S&P 500 index of its 50-day moving average,” said Jim Paulsen, chief investment strategist at the Leuthold Group.

Royal Caribbean is also down 4% this morning after 48 people tested positive on one of its ships. That’s bad news for cruise ship stocks, which just can’t catch a break. 

Per USA Today:

Initially, the cruise line reported 44 cases on board. “This number (48) includes four additional close contacts which were identified as COVID-19 positive at the end of the voyage,” Sierra-Caro said Monday. “The guests were quarantined on board and assisted upon the ship’s arrival on Dec. 18.”

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Close: 35,365.44. 
  • Futures: 34,859. 
  • Change: -393. 

S&P 500 (mini)

  • Close: 4,620.64. 
  • Futures: 4,553.75. 
  • Change: -56.25. 

NASDAQ (mini)

  • Close: 15,801.46. 
  • Futures: 15,569.5. 
  • Change: -216.25. 

RUSSELL (mini)

  • Close: 2,173.93. 
  • Futures: 2,137.9. 
  • Change: -29.4. 

Note: Updated as of 9:18 a.m. EST  

P.S. Your Complimentary Bootcamp Training Session

The stock market’s been up and down the past several weeks…

But during volatile times like this, the bottom line is simple: We need to find a way to get in front of massive pullbacks… 

And we need to find it fast

That’s why I put together a complimentary bootcamp training session to teach people the three critical components for “profitable pullback” trading.

This is real, in-depth training with the goal of making my viewers better and smarter traders in 2022!

See You There!

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

WRITTEN BY<br>Roger Scott

WRITTEN BY
Roger Scott

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