Merry Christmas to all!

Hey there folks, 
Dow 18,000 AWESOME!!! >>>>Now what? 

We continued to grind higher yesterday and we are showing a little green this morning premarket. What was more glaring to me was the weakness in the momo names and the significant drop in the IBB. The IWM continues to struggle with crossing and holding 121 and oil may be stabilizing or it could be consolidating before another leg down. 
I continue to remain very cautious. Follow through on breakouts has been difficult to come buy the last couple days and I don't expect much today. I am very comfortable just sitting on the sidelines and taking it all in.  

Enjoy your Holiday be safe and have fun!  



CNBC in the news 

	IN THE NEWS TODAY

U.S. stock futures were higher in early trading, after a fifth day of gains on Wall Street, which saw the Dow close above 18,000 for the first time ever. The stock market closes early today for the Christmas holiday. (CNBC) Oil resumed its slide this morning, following Tuesday’s 3.4 percent increase in U.S. crude prices. Traders are awaiting this morning’s official release of U.S. oil inventory data. (Reuters) American Airlines plans to pay its flight attendants an additional 4 percent on top of raises already averaging 10 percent, because of strengthening profits on lower oil prices. (Reuters) Sony Pictures has flip-flopped and will allow “The Interview” to open in selected theaters on Christmas Day, despite threats and a devastating hacking that the U.S. blamed on North Korea. (CNBC) Sony (SNE) is considering a sale of its jointly-owned unit with Michael Jackson's estate that owns the rights to most of the Beatles' songs, according to leaked emails. (WSJ) The fatal shooting of a teenager by police at a gas station last night just miles from Ferguson, Missouri, set off angry clashes between demonstrators and officers. (NBC News) An already hectic holiday travel week took a tragic turn Tuesday afternoon, when at least four people were killed by tornadoes that swept through the south. (NBC News) Trying to avoid a repeat of last year’s late Christmas deliveries, UPS (UPS) and FedEx (FDX) started capping air express deliveries in recent days, after an 11th-hour increase in packages. (WSJ) Wal-Mart (WMT) will be adjusting base salaries at about one third of its U.S. locations, according to an internal memo, because of minimum wage hikes in 21 states that take effect in 2015. (Reuters) South Korean prosecutors have indicted the local subsidiary of U.S. ride-hailing service provider Uber for violating a law governing public transport. (Reuters) The president of Takata, the Japanese air bag maker embroiled in millions of recalls worldwide, is stepping down, and its chairman is assuming the role to unify the company's response to the crisis. (Reuters) The Food and Drug Administration reversed a decades-old ban on gay men donating blood, concluding that modern scientific screening makes the ban unnecessary. (WSJ) President George H.W. Bush was taken by ambulance to the Houston Methodist Hospital "as a precaution" after experiencing "shortness of breath" Tuesday, said a statement from his office. (NBC News)

	BY THE NUMBERS

Today’s lone economic report comes from the Labor Department, whichreleases its weekly initial jobless claims at 8:30 a.m. ET, a day earlier than usual because of the Christmas holiday. Economists are looking for 290,000 new claims for the week ending Dec. 20, little changed from the prior 289,000. Americans' appetite for mortgages picked up last week on the back of positive economic data, with total application volume for the week ending Dec. 19 rising 0.9 percent on a seasonally adjusted week-over-week basis. The earnings calendar is completely blank on this Christmas Eve, with the stock market closing three hours earlier than normal at 1 p.m. ET. Trading resumes Friday morning for a full day on Wall Street. Norwegian Cruise Line (NCLH) said late Tuesday that an engine room fire earlier this month that took one of its ships out of service will reduce both fourth- and first-quarter earnings by 5 cents a share. The fire forced the complete cancellation of one cruise and part of another.

	STOCKS TO WATCH

DirecTV (DTV) and Walt Disney (DIS) signed a multi-year distribution agreement, including Internet video rights for the satellite provider. A group led by Apple (AAPL) and Microsoft (MSFT) has sold about 4,000 former Nortel Networks patents to patent management company RPX Corporation (RPXC) for about $900 million. (AP) Citigroup (C) will reportedly sell its Japanese retail banking operations to Japan’s Sumitomo for about $330 million, according to Reuters. GlaxoSmithKline (GSK) and NewLink Genetics (NLNK) received $43 million in U.S. government funding to help fund faster development of two vaccines for Ebola. Novo Nordisk (NVO) has received FDA approval for Saxenda—the second obesity drug to be approved this year after Contrave by Orexigen Therapeutics (OREX) was cleared in September. (Reuters) Best of Success!