6 replies to this topic

[dTraderB]

After that humongous daily GREEN candle, the markets have been pulling back, testing the resolve of bulls to bear some pain, buyers' remorse, and the courage of bears to step in. Yesterday's SPX daily candle could be interpreted as bearish, still not able to test the 200ma level, and lost much of the earlier gains during the day.

 

Once the daily SPX close is above 2708 then I am still bullish. An hourly close below 2717 will be a warning sign for the bulls. 

 

It could be many will not risk a G 20 disaster for Trump/China Trade talks. 

 

Downward pressure on Crude is not bullish as many seem to think, including Trump. Crude below 50 is not good for the booming US energy industry. And, then there is the probe, Russia/Ukraine, Brexit, Italy, etc

 

 

[dTraderB]

Key Events

Canada's gross domestic product for the third quarter is out at 8:30 a.m. ET.

The Chicago purchasing managers index for November, out at 9:45 a.m., is expected to fall to 58.0 from 58.4 a month earlier.

The New York Fed's John Williams speaks on the global economy at 9 a.m.

The Baker-Hughes rig count is slated for 1 p.m. 

  Must Reads  

There are good reasons to think the market might be over-interpreting Mr. Powell’s remark that interest rates are ‘just below’ where they should settle in the long run. PHOTO: JIM LO SCALZO/EPA-EFE/REX/SHUTTERSTOCK

Powell shows his cards on the stock market. The only way the Fed can assess whether the economy is close to neutral is whether it seems to be slowed by interest-rate rises. 

Banks’ expectations for oil prices next year are falling amid signs of rising global supply and a price rout in which crude has lost more than 30% since the start of October. 

Consumers stepped up spending to start the fourth quarter, lifting the economy.  

Boxer Mayweather Jr. and producer DJ Khaled agreed to settle SEC crypto charges. T 

John C. Bogle sounds a warning on index funds. The father of the index fund says their increasing dominance may create some of the “major issues of the coming era.”

  What We've Heard on the Street

“Microsoft’s rebound also proves that, while tech is a fast-changing industry, tech companies that reach a certain scale tend to have staying power.”

[dTraderB]

• Fed's Kashkari says rates should not go up when job creation is strong and inflation is tame
• What to expect from the crucial G-20 meeting between Trump and Xi this weekend
• Dow set to fall 100 points as high-stakes G-20 puts trade in spotlight

[dTraderB]

Jeez, whining BULLS not good for the bullish cause! 

 

It's now up to President Trump to rescue the stock market from ending 2018 in the red

[dTraderB]

Just want to say that global markets are weak, there are rallies, but there are signs of weakness that cannot be ignored. 

 

When there is weakness, markets can tank with the slightest catalyst.

[dTraderB]

I was referring to that daily candle yesterday, see chart, bearish for some

 

 @rightviewrob

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@jimcramer $DJIA $SPX This Pattern Has Marked The Last Three Highs On The Dow Chart – And It Is Forming Again -- analysis and charts here: http://www.rightviewtrading.com 

3:56 AM - 30 Nov 2018

Edited by dTraderB, 30 November 2018 - 09:05 AM.

[dTraderB]

Will add to my VXX long position