Stock Market Today: December 3rd - 7th, 2018

Haha I guess not but this December could be a pretty volatile one it seems like

 

Canada arrests Huawei CFO. She faces US extradition for allegedly violating Iran sanctions

https://www.cnbc.com/2018/12/05/can...extradition-for-violating-iran-sanctions.html

Futures down well over 1% now. People are saying this news might be causing the drop in the futures since it could increase tensions between the US and China.

 

Funny that she was detained on Saturday, but the news waited til now. Can we close the markets one more day for the mourning?

 

This whole year in a channel

 

Wow no bounce?? 2640 maybe?

 

MKTX not paying any mind to the last 2 trading days.

FEYE continuing to look nice, 10 ma crossing above the 20 ma.

 

Ok. I purchased long lot #2 at 2650. The SPX hit 2643. I don't care at this point whether it goes up or not. If it goes up, I profit. If it collapses, I can buy more long. This is in a strong buy zone

 

I think we see 2621 SPX today and I'm thinking 2581 SPX eventually.

 

I wanted to add long again at 2622 to 2625 level. Oh well.

 

SPX 2620 to 2650 is a rich buy zone

 

Even 2700 is ok for buying

 

My target is around 2725 to 2735. At that point, I shall ditch 50% of my positions for profit taking and assess what to do with the other 50%

 

The problem is that next week, the SPX could plausibly hit around 2850+ for the infamous "Santa rally"

 

The collapse today attributed to the Huawei arrest is....hmmm...at any rate, this is an opportunity to buy at this 2620 to 2650 level

 

any close above 2641 today and I'll be looking for a gap fill to 2699 in the next few days.

 

Tech actually outperforming today, names like AMZN, GOOGL, and NFLX actually in the green Cybersecurity stocks also doing well

 

For my worthless opinion... I feel like there is way too much potential risk for managers at the moment. The yield curve, trade wars, Russia aggression's, oil prices, and even the Muller investigation make it hard for managers to put money to work here. I don't believe the MM's get FOMO lol.

Having said that, once the news creates the hype for a move the BOTS kick in and trade. The markets have been really sweet intra day for technical traders imo.

 

Fed's Bostic says interest rates are 'within shouting distance of neutral'

https://www.cnbc.com/2018/12/06/fed...-are-within-shouting-distance-of-neutral.html

The FED continues to sound more dovish. Maybe they will hike this month then indicate that it will be totally data dependent