US market perf on 29 Nov 2022 (Tue). Rally or contd Consolidation today ?
After 3 days of gain, Dow Jones Industrial Average (DJIA) finally decided to take a breather. So did the other two bourses.
By the time market closed for the day :
- DJIA : -1.45% (-497.57 to 33,849.46).
- S&P 500 : -1.545 (-62.18 to 3,963.94)
- Nasdaq : -1.58% (-176.86 to 11,049.50). Worst of 3 boards. Now inching too closed to 11K mark.
Actually the market opened "positive" as it was still reeling from last Fri (25 Nov) mini-rally.
Investors were still in the mood to shop.
However, after interview with St Louis Fed governor Mr James Bullard {by MarketWatch}, all three bourses dipped and never looked back.
What did the man say ?
Mr Bullard reiterated that based on data the Federal Open Market Committee has privvy to, interest rate needs to reach at least the bottom end of a 5% to 7% range to be sufficiently restrictive
It appears (to me at least) whenever a Fed member speaks, the interest rate's "upper limit" would get inflated to a bigger number (again).
Did you notice this peculiar behaviour ?
Technically, the Moving Averages of all 3 Indexes are "weaker" comparatively speaking if they were to be compared to those from last week.
Does this signal that in the immediate to short term, market will be volatile once again ?
As FTX crypto exchange saga continues to unfold, the crypto contagion is spreading & fast.
So instead of talking about what to lookout for today, let's do the opposite & talk about what not to invest ok ?
- Coinbase - $Coinbase Global, Inc.(COIN)$
- Robinhood - $Robinhood(HOOD)$
- Riot blockchain - $Riot Blockchain, Inc.(RIOT)$
Are you investor to any of the above stocks ? Any thoughts on this ?
Share them in the Comments section below ? Thanks.
Please "Like" this post ok. Thanks. The rating is important to me. Thanks in advance.
Matching song ? Three Coins In The Fountain sung by Mr Frank Sinatra. Oldies... Dunno ? YouTube it.
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- Lao Tzu Ang·2022-11-29crypto is getting hurt a lotLikeReport
- setia100·2022-12-01Your Green & Red Chart is a good assessment of the current wk. However, you didn't show last wk chart when you made a comparison between the two 🤔1Report
- MoneyCentral·2022-11-29Rally only because of China possibly relaxing measures. Will turn down again shortly after1Report
- Albert945·2022-12-03thanks for sharing1Report
- criticalbomb·2022-12-01thanks you very much ❤️❤️❤️1Report
- JoanneSamson·2022-11-29Personally I don't invest stocks that r vitality-lack or pennyLikeReport
- JC888·2022-11-29Hi tks for making time to read my post. Pls remember to give a "Like" okie. Tks.LikeReport
- DaveLewis·2022-11-29peculiary is the main chordLikeReport
- CynthiaVogt·2022-11-29Another dip to accumulate...short weekLikeReport
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- PGLian·2022-12-03okLikeReport