Typical Holiday Movement

Even though the "Santa Rally" does not historically start until after Christmas, I see the market is already beginning to drink eggnog and drift on higher. Moreover, momentum traders seem to be congregating around some typical, high beta stocks which have taken a beating and may now be ripe for some relief.

Twilio is one such maple, below on the 30-minute timeframe. With plenty of eyes on it, if TWLO can hold above $30.50 it is hard not to see at least some relief for a name which has been more than cut in half since late-September. 

In addition, with earnings now out of the way, BBRY is even acting better. Let's see if it can hold over $8 for a sleeper turnaround into 2017. Or if that is too ambitious, at least a joyful end to 2016.