SPX-Santa Rally or Abysses...
With a difficult opening of the week, the equity market would again seem in doubt.
Dow Jones Industrial Average rose three points, or 0.01%.
$S&P 500(.SPX)$ fell 0.2%.
$NASDAQ(.IXIC)$ was a little bumpier with a 0.6% drop.
We can notice, the calm of the exchanges with a total volume lower than the average for the year...
With November coming to an end, the Dow is up 3.4% and the S&P 500 up 2.2%.
But this month was conducive to certain stocks that were badly abused during the year.
- We can mention: $Meta Platforms, Inc.(META)$ with an increase of 18% over the month. Peloton Interactive up 25% and $Under Armour(UA)$ up 32% (Recently added to my portfolio on Tiger).
With Powell's speech on the economy ahead, investors should continue to latch onto every word of the Federal Reserve official, looking for clues that the bulls may be coming to an end...
While trading remained calm at the start of the week, things could become more volatile by the end of the week, especially with the Labor Department releasing the November jobs report on Friday...
Calendar to watch:
- 11/30: Powell + GDP
- 12/1: CORE PCE + ISM
- 12/2: Non Farms
Please find below the levels selected for the SPX.
- 4000 Key Level
- Upper area: 4050-4100
- Lower Zone 3950-3900
Thanks for reading and supporting.
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