168 replies to this topic

[dTraderB]

Closed 1. Will be daytrading this.

3 CRUDE LONG

Will add below 74

[12SPX]

Was a great thanksgiving weekend.  Computer seemed to crash so that was fun but initiated me to buy a new laptop to replace my imac but then I found out all it was was my third party memory I bought a few years back lol.  Then this morning it took 30 minutes to get my keyboard to reconnect lol!!  Now I'm being distracted trading this morning with hedges lol!!  Anyhow still holding my overall short now adjusted to a nice even 4495 and 15875 but ended up doing lots of trading overnight as those pyjama traders are great to trade with.  Went long at 15950 to back up to 16000 to go short again as I got up this morning to go short there again.  Market is remaining very overbought, sentiment is way to bullish option wise and overall bullishness, even chief just started talking again lol!!  Mostly though bonds just aren't cooperating with this move and I think its because there is so much debt being put out there right now its tough to get buyers as the overall country is way over its skis in borrowing.  Think it's going to get tough for the market here as we move into December but agree with d, after a small correction and lots of choppiness the next few days, it'll likely be up into year end. 

[dTraderB]

Closed 1 75.9
Holding 1

Will add longs below 75.4

Closed 1. Will be daytrading this.

3 CRUDE LONG

Will add below 74

[redfoliage2]

In starting the last week of the month the market is moving in range-bound as pops got sold and dips bought.  I see the market is likely at a ST top  ........................

Edited by redfoliage2, 27 November 2023 - 11:45 AM.

[redfoliage2]

In starting the last week of the month the market is moving in range-bound as pops got sold and dips bought.  I see the market is likely at a ST top  ........................

As the market breadth top has been formed the price should follow soon  ...............

Edited by redfoliage2, 27 November 2023 - 11:58 AM.

[redfoliage2]

 

In starting the last week of the month the market is moving in range-bound as pops got sold and dips bought.  I see the market is likely at a ST top  ........................

As the market breadth top has been formed the price should follow soon  ...............

 

BTW, the recent performance of VIX index also indicating a ST market top here.  It's waiting for a trigger .......................

Edited by redfoliage2, 27 November 2023 - 12:11 PM.

[dTraderB]

Helene Meisler (@hmeisler) posted at 2:45 PM on Mon, Nov 27, 2023:

Yardeni also has a 5 handle on his 2024 target.

@SamRo anyone else?

BMO sees solid US stock gains ahead, S&P 500 ending 2024 at 5,100

NEW YORK, Nov 27 (Reuters) - U.S. stocks are in a bull market and will post "solid" gains in 2024, even as returns are lower than this year, BMO Capital Markets strategists said on Monday.

In a market outlook report, BMO Chief Investment Strategist Brian Belski and his team projected the benchmark S&P 500 (.SPX) would end 2024 at 5,100, nearly 12% above Friday's closing level. The index is up more than 18% so far in 2023.

"We continue to believe that US stocks are in a bull market that has now entered its second year," the BMO strategists wrote in their report, adding that historical bull market performance patterns "suggest lower, but still solid gains."

https://www.reuters....023-11-27/?s=03

[dTraderB]

Liz Young (@LizYoungStrat) posted at 2:52 PM on Mon, Nov 27, 2023:

"A diffusion index of what the NBER tracks to declare recession is at the lowest levels since Oct 2020. Risks are out there for sure, but this dataset doesn't smell anything scary at present."

Helene Meisler (@hmeisler) posted at 2:45 PM on Mon, Nov 27, 2023:

Yardeni also has a 5 handle on his 2024 target.

@SamRo anyone else?

BMO sees solid US stock gains ahead, S&P 500 ending 2024 at 5,100

NEW YORK, Nov 27 (Reuters) - U.S. stocks are in a bull market and will post "solid" gains in 2024, even as returns are lower than this year, BMO Capital Markets strategists said on Monday.

In a market outlook report, BMO Chief Investment Strategist Brian Belski and his team projected the benchmark S&P 500 (.SPX) would end 2024 at 5,100, nearly 12% above Friday's closing level. The index is up more than 18% so far in 2023.

"We continue to believe that US stocks are in a bull market that has now entered its second year," the BMO strategists wrote in their report, adding that historical bull market performance patterns "suggest lower, but still solid gains."

https://www.reuters....023-11-27/?s=03

[dTraderB]

ES in the CHOP ZONE during most of US session.

Adam Mancini (@AdamMancini4) posted at 2:20 PM on Mon, Nov 27, 2023:
Chop session underway and we are finally coming into today's ~4572 1st target in #ES_F after 4 hours. Lock in partials now if long. 4554-4580=remains the multiday chop zone to setup the next trend leg.

4580 next if ES wants (breakout to 4600+). 4554, 4542 (sell trigger)=supports
(https://x.com/AdamMa...5150512136?s=03)

[jacek]

Helene Meisler (@hmeisler) posted at 2:45 PM on Mon, Nov 27, 2023:

Yardeni also has a 5 handle on his 2024 target.

@SamRo anyone else?

BMO sees solid US stock gains ahead, S&P 500 ending 2024 at 5,100

NEW YORK, Nov 27 (Reuters) - U.S. stocks are in a bull market and will post "solid" gains in 2024, even as returns are lower than this year, BMO Capital Markets strategists said on Monday.

In a market outlook report, BMO Chief Investment Strategist Brian Belski and his team projected the benchmark S&P 500 (.SPX) would end 2024 at 5,100, nearly 12% above Friday's closing level. The index is up more than 18% so far in 2023.

"We continue to believe that US stocks are in a bull market that has now entered its second year," the BMO strategists wrote in their report, adding that historical bull market performance patterns "suggest lower, but still solid gains."

https://www.reuters....023-11-27/?s=03

Yardeni's 2024 target has been 5400