Page menu

Wednesday, November 30, 2022

Market Update 11/30/22 - Dull Market Continues

 Market couldn't pull back much yesterday, for all the reasons I laid out in yesterday's update, although it did pull back slightly intra-day, and if you're able to get in and out of trades quickly, then you may be able to make a little money trading this market. Buy the dips; sell the rips. 

Volume remains pretty light, and you can see for yourself, what that does for market direction... we have been trading in the same range for the past 2-3 weeks. No wonder the cable news needs to make up a different story every day, and report 2 day winning streaks, in order to keep investors watching..!  

In the news 

You can pretty much find what ever story suits your fancy: 

  1. The stock market rally isn't over yet, Deutsche Bank strategist says
  2. Bear Market in Stocks Hasn't Ended Yet: Goldman Sachs says

Good example of why nothing else matters, but the charts 

Powell Speaks today, and I wasn't sure why... until I saw Bloomberg pushing a leftist agenda... can't seem to find any of the images, I saw them using on live TV, but maybe by tomorrow.... 

As far as the short term trade is concerned, I wouldn't be arguing with the chart, this time of year.

The trend is up, and can certainly remain that way, into the holidays. 

$INDU - the Dow continues to lead.... possible 35500 target, as long as the trend continues... 


Rally into Hanukkah, or at least into Powell's speech, and into a gap fill, on the $VIX. 

 Take Care, AA 


No comments:

Post a Comment