The Stop-Loss Searchers

Headed into the closing bell, you can see why pressing shorts in this sort of tape continues to be a challenge--Despite a red morning, bears were unable to accelerate the pressure lower into the afternoon. 

True, the meme stocks, AMC GME, were sold aggressively alongside cryptos ad crypto stocks like MARA RIOT. And NVDA TSLA were among the biggest losers in all of tech. Beyond that, ARKK and IWM both closed soundly red despite the PFE for ARNA buyout. Defensives like staples and utilities outperformed throughout the day as the Omicron variant takes hold in the UK, to boot. 

However, this sort of action still seems more hell-bent on detonating every stop-loss in sight, for both sides, before it makes its next true move. It could have after the FOMC this week, or perhaps in January.

But until we see more trending action either way I am going to resist the urge to splash chips around just for the sake of it.