78 replies to this topic

[redfoliage2]

This bull market just started in Nov 2023 and very unlikely it will stop right here.  We should see SPX 5000 next year ......................

I see the momentum in market breadth should take this bull run into next year and SPX likely to end the year above 4600  ........................

Edited by redfoliage2, 04 December 2023 - 12:28 PM.

[redfoliage2]

 

This bull market just started in Nov 2023 and very unlikely it will stop right here.  We should see SPX 5000 next year ......................

I see the momentum in market breadth should take this bull run into next year and SPX likely to end the year above 4600  ........................

 

BTW, it's entirely possible for SPX to close the day in green when the late day institutional buyers step in, that is typical of bull market ......................

Edited by redfoliage2, 04 December 2023 - 12:50 PM.

[redfoliage2]

 

 

This bull market just started in Nov 2023 and very unlikely it will stop right here.  We should see SPX 5000 next year ......................

I see the momentum in market breadth should take this bull run into next year and SPX likely to end the year above 4600  ........................

 

BTW, it's entirely possible for SPX to close the day in green when the late day institutional buyers step in, that is typical of bull market ......................

 

Late day buying as said.  I see the market is more likely to go higher tomorrow...................

Edited by redfoliage2, 04 December 2023 - 03:39 PM.

[dTraderB]

"Small caps pick up baton, China rating hit"
 
As the S&P500 stalled on Monday at its high for the year, taking a breather from last week's 'peak rates' rally, smaller U.S. stocks picked up the baton and are playing catchup into the yearend.



Global stock markets were off somewhat again on Tuesday, with Moody's decision to cut the outlook for China's sovereign credit rating on Tuesday adding even more pressure to the year's alarming market underperformance there and clocking a five-year closing low for its benchmark stock index. -- REUTERS

[dTraderB]

JOLTS & TREASURY AUCTIONS
Key developments that should provide more direction to U.S. markets later on Tuesday:
U.S. Oct JOLTS data on job openings, U.S. Nov S&P Global service sector survey
Federal Reserve Division of Supervision and Regulation Director Michael Gibson testifies to Congress on Financial Innovation. European Central Bank President Christine Lagarde speaks
U.S. Treasury auctions 3-, 6-month bills
U.S. corporate earnings: JM Smucker, Autozone, Descartes Systems, Healthequity, AeroVironment, Rent the Runway, MongoDB, Stitch Fix, Powell Industries, Dave & Buster's Entertainment, Daktronics, G-III Apparel. ZeroFox, D Market Electronics Lands End, America's CAR-MART.

"Small caps pick up baton, China rating hit"
 
As the S&P500 stalled on Monday at its high for the year, taking a breather from last week's 'peak rates' rally, smaller U.S. stocks picked up the baton and are playing catchup into the yearend.



Global stock markets were off somewhat again on Tuesday, with Moody's decision to cut the outlook for China's sovereign credit rating on Tuesday adding even more pressure to the year's alarming market underperformance there and clocking a five-year closing low for its benchmark stock index. -- REUTERS

Edited by dTraderB, 05 December 2023 - 06:22 AM.

[dTraderB]

WSJ: The picture was worse in China, where the CSI 300 Index hit its lowest level in almost five years, because of growing concerns about the country's economy. After Chinese markets closed, Moodys Investors Service cut its credit rating outlook to negative.

Meanwhile, our Rebecca Feng and Cao Li report on how China is trying to defuse the financial time bomb of hidden local government debt that helped spark the Moody's ratings action.

[12SPX]

Still no suitcase if anyone is interested lol!!  Fun day of trading though going mostly long but still feel we could see some downside in the end.  Very interesting bond yields are down this morning along with oil and yet futures are lower.  Is the slowdown starting to take hold is the question, we'll see, key will be the employment reaction on Friday I think.  Not to mention the poor participation we're seeing in bond auctions...., to much bullishness, way overbought and fundamentally pricing in perfection.  If we do see a slowdown coming the market is in for a surprise for earnings thus possibly see some hard downside next year, I will be shocked if we see new highs!!  Still holding my overall short 4528 on the ES but may add if we rally a little today to even out.  Will be interesting to see if we see a bit of a pop higher with the cash open....

[12SPX]

Got the pop I expected and a little more with the Jolts report, perfect to sell into, added to my bigger short to get it up to a nice even 4530 and starting a short build at 15910....

[12SPX]

profit stop 15890, sell above....

[12SPX]

out for 20 points profit, lets see how it goes....