Individual stocks seem to be doing their own thing as investors rearrange their portfolios to position themselves for 2010 and complete whatever tax loss selling remains. My current expectation is for continuing choppy weakness in the market until the 1st or 2nd trading days in 2010 which should be a tradable low. All this assumes the MCO behaves appropriately for the next couple of weeks.
Expect market weakness until after New Years day.
Click to enlarge.