OPEC is on the schedule for tomorrow. There will continue to be fallout from the quicker taper “tantrum” but more so the variant narrative that is not quite discounted into the market. I am still optimistic about December, but we will be happy to keep some day-trading on the agenda to stay nimble.
MSFT, AAPL, NFLX and GOOGL are set up to lead us into and end of year Santa Rally. Here are the key levels to trade.
Many key tickers, including GOOGL, FB, NFLX, MSFT, and more are all sitting on key zones that could easily be the best buying point prior to the Santa Rally, or, could be the point where they fall apart along with the market. Here are the key parameters I’m looking for.
The market has still a lot to digest from not-so-transitory inflation to the current variant, but all-in-all stocks were resilient and Tuesday followed the intraday tendency. So following that week-to-week intraday pattern, here’s what in store for the rest of the week.
kaPowell released the kraken on the market today with his comments on inflation… not that we didn’t know but the “official” messaging changed and it’s the message that precedes the action for the Federal Reserve… the markets took the comment rather well and I am still looking for some trends to continue into December.
While there is usually a bullish connotation to turnaround Tuesdays, if we get the bearish variety that could be exactly confirmation buyers want to see to set up a strong finish to the year. In this update, I explain how historical volatility plays into the setup and my preferred symbols for a buy.
Plus these are my favorite stocks into the end of the year.
Turnaround Tuesday should never be a foregone conclusion and this Tuesday is playing out to be potentially be bearish – but this is a tendency and not a trade. Ultimately, there are buy setups brewing in crude oil, S&P, as well as the NASDAQ and that is where my focus will be tomorrow, if the pattern confirms.