Holiday Malaise

We are right smack in the middle of that awkward period where Christmas is clearly in the rear-view mirror, with leftovers having been exhausted and playing Christmas music seems out of place, but New Year's is still a few days ahead of us and the calendar has not yet flipped.

It is still the holiday season, for all intents and purposes, but a kind a near-term malaise sets in for a day or two. 

On that note, equities are still in melt-up mode but they, too, are displaying a certain malaise today with a notably tight price range on the S&P 500 Index intraday, for example. That may change before the bell, of course. 

However, the point remains that the low volume holiday trading has clearly taken hold as many folks are uninvolved with markets this week. 

For something more actionable, check out the notorious heartbreaker, natural gas. 

On the UNG ETF daily chart, below, the commodity has become so laughably bad, even by its own low standards for years now, that I am finally interested in a relief rally back up to the $6.50 area.

A close and hold over $5 is a good first step.