Small-Caps Stalled

New Highs led New Lows — 41 vs. 7.

January 03, 2024

Good evening,

Stocks stalled for the second straight day. Every major index closed lower. Small-caps sank -2.66%.

Energy and utilities inched higher. Real estate, consumer discretionary and industrials lagged.

New Highs led New Lows — 41 vs. 7.

Matson ($MATX) is the best of the best. The marine shipper sailed +2.22% and closed at its highest price since March 2022.

Here’s the daily chart.

And monster monthly chart.

AMC Entertainment ($AMC) is the worst of the worst. The movie theater operator tumbled -8.82% and closed at an all-time low.

Here’s the daily chart.

And weak weekly chart.

Library in the Earth

If we encounter a man of rare intellect, we should ask him what books he reads.

Ralph Waldo Emerson

Here are a few recommended readings…

Extraordinary Popular Delusions and The Madness of Crowds (Amazon)

Zen in the Art of Archery (Amazon)

Trading in the Zone (Amazon)

Thinking in Bets (Amazon)

or to participate.