To The Moon

We are seeing many stocks on upward movements, the S&P 500 closed above 6,000 for the first time, marking a 0.1% increase from Friday's record close. NASDAQ also rose by 0.06%, while the Dow Jones Industrial Average gained 0.69%. The Russell 2000 outperformed with a jump of 1.4%.

Advancers leading decliners by a roughly 3-to-2 margin at both the NYSE and the Nasdaq. The Invesco S&P 500 Equal Weight ETF (RSP) increased by 0.5%, and six S&P 500 sectors recorded gains.

Small-cap stocks, along with other market segments favored last week, benefitted from optimism surrounding the economy and equity market under the incoming administration and Congress.

We are also seeing buying activity triggered by FOMO (Fear Of Missing Out) for further gains.

This week, we will be seeing quite a few economic reports. Today (12 Nov) we will be expected the release of October NFIB Small Business Optimism survey at 6am ET.

Wednesday (13 Nov): October CPI report is expected. Thursday (14 Nov): October PPI report expected. Friday (15 Nov): October Retail Sales Report is expected.

S&P 500 Consumer Discretionary Win Helped By Tesla Significant Gain

We saw consumer discretionary sector led the group with 1.75% gain, this gain was driven by the $Tesla Motors(TSLA)$ significant rise with 8.96% increase.

Financial sector came in second with a 1.41% gain, this is powered by last week's election-related gains.

The largest lagger is Information Technology sector which lost 0.89% due to weakness in mega caps and semiconductor maker stocks.

Bond trading was closed on Monday for the Veterans Day holiday. Government offices were also close

Crypto Stocks Surged As Bitcoin Keep Soaring

Crypto-related stocks surged along with the bitcoin move. MicroStrategy (MSTR), one of the world's biggest holders of bitcoin, was up 26%, crypto exchange Coinbase (COIN) added 20% and bitcoin miner MARA Holdings (MARA) jumped 30% on Monday.

Stocks To Watch

Shares of Amedisys (AMED) dropped 4.2% following news that the Department of Justice is likely to challenge United Health (UNH) proposed acquisition. This potential legal action comes after the companies had been in discussions with DOJ officials to prevent such a lawsuit. Amedisys had agreed to a sale at $101 per share to UnitedHealth, with the deal expected to close by year-end.

$Luminar Technologies, Inc.(LAZR)$ saw a 13.73% rise in shares despite reporting a third-quarter revenue miss. The company anticipates moderate revenue growth in the fourth quarter and significant improvement in gross loss, with year-end liquidity estimated between $230 million and $240 million.

We need to be careful for LAZR as the surge could be one time as technical have not given much confirmation of a strong upward trend, as it has been trading below the short-term MA, and MTF is showing downward trend for longer period.

$Costco(COST)$ ended its streak of six consecutive gains, closing down 1.16%. Despite strong financial performance, some analysts consider the stock overvalued due to its high P/E ratio and limited growth potential.

Even though we might see COST ending its streak of consecutive gains, the stock remains strong from the technical analysis, it is currently trading above the MA, and MACD on upside movement, and MTF is giving a strong uptrend signal.

As long as it does not fall below $889, I believe COST still have room to run.

Summary

I think we might see a reduced buying activity today (12 Nov) as investors might be concerned that the weakness on the mega caps and semiconductor stocks would continue, especially with the chips export news coming, we should have more clarify in days and weeks to come.

I personally would focus on AI software stocks like $Palantir Technologies Inc.(PLTR)$ $Salesforce.com(CRM)$ , they should be benefitting from the increased demand from enterprise AI adoption.

Appreciate if you could share your thoughts in the comment section whether you think market would be shifting focus to software stocks and small caps.

@TigerStars @Daily_Discussion @Tiger_Earnings @TigerWire appreciate if you could feature this article so that fellow tiger would benefit from my investing and trading thoughts.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.