Stock Market Today: November 26th - 30th, 2018

Range-bound between 2 gaps. 2650 below, 2680 above. Wonder if we'll be like this all week.
Underneath it all, see which sectors move up easily and hold up, and which sectors move down easily and stay down.

 

Powell speech tomorrow and then the G20 starts Thursday, could be setting up for a very interesting finish for this trading week

 

I want the SPX at 2600 for a long entry. My theory says that the SPX has to re trace to the 2750 level at some point.

 

A weak hold by the tech stocks, after yesterday's big results from CRM and NTNX.

 

On November 20th I wrote: "With this collapse, I might target profit taking around the 2720 to 2730 level. Of course, everything depends on the price action." The SPX hit 2723. I'm all out. I exited yesterday at 2675--risk management. Made some profit but, of course, not as much as I could have. Again, price prediction and trade management are separate issues.

 

Fed's Powell says interest rates are 'just below' neutral

https://www.marketwatch.com/story/feds-powell-says-interest-rates-are-just-below-neutral-2018-11-28

Looks like market celebrating on that remark from Powell Powell said rates are “long way from neutral” not too long ago

 

And so...I shall look for a new opportunity with a fresh start. Hopefully, with Trump, we shall have more excellent opportunities in the future.

 

Last weekly candle for the month and it looks like the monthly candle is trying hard to make a good retrace. Under pressure from Trump it looks like the FED Chairman wants to keep his job so he said everything he could to try and please Trump.

https://www.cnbc.com/2018/11/28/sto...looks-to-fed-chair-speech-and-trade-news.html

 

Next week will tell. After G20 the new daily, weekly and monthly candles will start next week. Let's see. Perhaps a short Santa's rally for time being and end of the month dressing.

 

All major indexes are up well over 2% and the NASDAQ is up almost 3% I guess we are going to the moon if we get some good news at G20 this weekend

 

So, the SPX hit 2743. I wrote the above yesterday. Too bad, it didn't collapse first

 

Oh, well. I shall return when a nice entry level happens

 

Santa Rally in full swing? Biggest rally in eight months today.

 

Market remains pretty resilient after a brief selloff on trade war headlines

10 year yields now at just barely over 3% which is a pretty sweet spot for stocks, let’s see if the FED Minutes at 2 PM will move the market

 

Deutsche Bank down big once again, something to keep an eye on especially for the banking sector

 

...and will the minutes be consistent with what Powell said yesterday? (Or, at least, how Mr. Market interpreted what Powell said yesterday.)