Six Degrees of the Baconator

It is beginning to look a lot like Christmas trading. 

Select beaten-down names, like TWLO, are finally catching a holiday bid today. I am looking to see if others follow suit, such as ACIA LN. For now, the momentum appears to be rather narrow as the indices work sideways-to-slightly-down. NKE is also turning in an uninspired bounce after earnings, which will need much more firepower to breach the stock's multi-quarter downtrend at this point. 

Natural gas is snapping back furiously after yesterday's sell-off. However, with inventory tomorrow I am not looking to take on risk at least until after the report, given how sloppy the commodity has traded. 

The extreme winners, like WEN and PLAY in the general restaurant space, are still pretty strong here. Note WEN, on the daily chart, below, is establishing itself as the dominant fast food play this year. And it is doing so to little fanfare, which is something I will keep in mind for 2017. Indeed, WEN may see a push higher yet even before New Year's if fund managers play "Six Degrees of the Baconator" and chase this thing for some last-minute window dressing.